Aston Martin holds talks with investors

 

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The Independent Online

Sports car maker Aston Martin yesterday admitted it is in "advanced" talks with potential investors, but its current owners have ruled out a sale of the business.

A spokeswoman for the firm said: "We are in talks for a capital increase. The company was not for sale and our existing shareholders, Investment Dar, are very much committed to Aston Martin."

Rumours have surrounded the car maker for weeks with offers believed to have come from Italian private-equity fund Investindustrial and India's Mahindra & Mahindra.

The Indian group is believed to want to buy up to half the car maker for around $400m (£250m).

Kuwaiti investment house Investment Dar bought the brand from Ford five years ago for £479m in a consortium with another Kuwaiti investment fund, Adeem Investment.

Dave Richards, the former Formula One Benetton and BAR boss, fronted the consortium and remains chairman of Aston Martin.

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