Mahindra and Mahindra distancing itself out of the Aston Martin takeover race

Friday 07 December 2012, 12:09 PM by

Mahindra & Mahindra (M&M), the Indian auto giant, which, until a few days back, was the frontrunner in the race to takeover the iconic British car maker, Aston Martin, it appears, has lost its interest in the UK based sports car manufacturer. If the reports circulating in the media are to be believed, M&M's management team, which was negotiating on the deal, has already left London.

The leading Indian SUV maker had earlier given hints that it had huge interests in owning a stake in the British car maker; however, the company no longer seems to be interested in the British sports car maker because of poor financial health of Aston Martin and its promoters. Apart from this, the ongoing financial restructuring of Investment Dar (the present majority stake holder of Aston Martin), could be another reason for M&M's discontinuation of talks to buy the British company.

Along with Mahindra & Mahindra, Italian buyout firm Investindustrial was another serious contender willing to buy stakes in Aston Martin. However, as the Indian company has now moved out of the deal, Aston Martin is left with only the Italian firm to contend with.

Mahindra & Mahindra has, however, not made any official announcement on this and the British company too hasn't given any statement. Therefore, nothing for sure can be said until any official from either company speaks on the matter.

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