This is the weekend – if the predictions of Reuters prove correct – when British sports car maker Aston Martin will get a new owner – yet again. An Italian private equity fund and an Indian company known for its off-road vehicles compete for the business.
According to Reuters, Italian private equity fund Investindustrial and India’s Mahindra & Mahindra have made competing bids for 50 percent of Aston Martin. A decision is expected over the weekend.
The current owner is the Kuwaiti investment house Dar. Two Kuwaiti investment companies, Investment Dar and Adeem Investment Co. had supplied the money, and the British engineering group Prodrive supplied the expertise when Ford wanted to unload Aston Martin, which it had owned since 1991.
Before Ford, Aston Martin had gone through a series of bankruptcies and different owners. All eventually found out that building supercars without the backing of a huge company is a losing proposition, and that recessions can be murder if expensive cars is all you have.Investitudinal owned motorcycle maker Ducati before selling it to Volkswagen. The company allegedly has reached a technical partnership deal with Daimler AG’s Mercedes.
DIGITAL JUICE
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