Investment Dar to Sell Half of Aston Martin image

Investment Dar Co., Aston Martin’s owner, has received bids from Mahindra & Mahindra and Investindustrial for half the sports-car automaker.

Sources say that Investment Dar and the other investors in Aston Martin might take a decision about the selling as early as next week. The European Investindustrial, which is a private-equity fund based in London, offered around 250 million pounds ($401 million), but Indian automaker Mahindra offered a higher bid.

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.

According to anonymous sources Investindustrial plans to use car parts and technology from AMG, the Mercedes-Benz unit that makes sports cars, and invest in Aston Martin’s existing models and add new ones to attract customers. Currently Aston Martin’s engine provider is Ford, but the sports car maker wasn’t allowed to access other resources after the sale.

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.