According to a Financial Time report, the 50% stake in Aston Martin could be sold at the end of this month.
Financial Times says that Investment Dar, Aston Martin’s owners, has received bids for half of the sports car maker from European buyout group Invest Industrial and Mahindra & Mahindra. To stay ahead of Mahindra, which has offered a higher bid, Invest Industrial included a technical partnership with Mercedes as part of the deal.
After Mahindra’s bid for Aston Martin has been made public, the automaker’s shares have fallen 2.9%. According to Brokerage Edelweiss, Aston Martin will need significant investments in development and technology since technology transfer from the Indian tractor and utility vehicle producer was highly unlikeable.
Investment Dar, is part of the group which bought Aston Martin from Ford in 2007 for 503 million pounds ($805 million). Selling part of the automaker will help the group pay off its debt. The company to win the bid will get 40% equity stake and 50% of the voting rights.
Aston Martin’s portfolio includes two-door coupes like the DB9, Vanquish and Vantage, and also the Cygnet city car, based on Toyota’s iQ. The automaker’s vehicles were used for 11 James Bond movies, making the brand more famous than before.