Aston Martin, the British super luxury sports car marque, has finally reached the much hyped sale agreement with Investindustrial group, in order to sell a whopping 37.5 per cent stake from the hands of its Kuwaiti owner. Evidently, Investindustrial is a big Italian firm with fingers in private equity fund business and is now a holder of 37.5 per cent of Aston Martin Lagonda Ltd. ASTON.UL stake, which was earlier in possession of the British brand's Kuwait based owner, Investment Dar.
The deal is revealed to be finalised with Investindustrial investing around $ 241 million (150 million pounds) in the British super luxury sports car maker. Further, Aston Martin has affirmed that the invested amount is in the form of capital increase. The Italian firm's arrival on the scene with its big money will enable Aston Martin to “invest more than half a billion pounds in new products and a technology program over the next five years.”
Reportedly, Aston Martin revealed in a statement that the deal with Investindustrial group has generated a sum of 780 million pounds as against 630 million pounds, before the final agreement. The British firm added that no accord has taken place concerning the technical association between Aston Martin and German auto giant's Daimler AG's Mercedes Benz. The company has also confirmed in the statement that even though it has cutback its bearing costs, it still requires fresh funds for its Research and Development (R&D) division, dedicated at designing and developing new products.
Evidently, Investindustrial beat the likes of Indian automotive giant, Mahindra and Mahindra Limited and sealed off the Aston Martin deal. The Indian firm was touted as a favourite to wrap up the multi million pounds worth deal, by top automobile industry buffs across the globe.
