Mahindra Fails to become co-owner of Aston Martin

|
Added in: News

Aston-Martin-Mahindra

British supercar brand Aston Martin finally gets a co-owner!

Unfortunately, leading Indian UV maker Mahindra, who has been in the race to acquire a chunk of shares in Aston Martin, hasn’t been successful.

Investindustrial , the earlier owner of Ducati, gets 37.5% stake in the Gaydon based supercar manufacturing firm.

It is being reported that even though Mahindra placed a higher bid than Investindustrial, the bid from UV maker was rejected due to Indian auto giant having no experience with performance cars. Investindustrial however, promised technical assistance from Mercedes AMG.

Investindustrial acquired 37.5% stake in Aston Martin for £150 million pounds. The Italian firm becomes the co-owner of the British brand with current owner Investment Dar.

Mr. David Richards, Chairman of Aston Martin said: “I am delighted that Investindustrial has decided to become a major investor in Aston Martin. With the support of Investment Dar, we have made substantial progress over the past five years in laying the foundations for success as one of the world’s leading luxury sports car manufacturers.”

Andrea C. Bonomi, senior principal at Investindustrial stated that, “We are looking forward to working with the management and Investment Dar to achieve a similar transformation and rejuvenation that we achieved with Ducati, by expanding the model range and strengthening the dealership network, throughout the world.”

 

,