Investment Dar Co., which has a controlling share in Aston Martin, has reached out to potential buyers to get rid of its 64 percent stake in the supercar company, according to sources familiar with the matter.
The Kuwait based company has hired Rothschild to advice on the sale. Word was that that India’s Mahindra & Mahindra Ltd. is among potential buyers Investment Dar has approached. Now it is being said that Tata Motors too is also in the race to bag the Bond Brand.
So far, a sale has been difficult since no buyer wants to match what the Kuwaiti owner paid for Aston Martin when it purchased it from FoMoCo (Ford) 5 years ago. The company is now looking for $800 million for its stake.
The reason for the sale? Investment Dar needs to raise some cash to pay off company debt.
Source – Birminghampost.net