Yahoo Finance Aston Martin Sells Stake To Investindustrial
Investindustrial has become a major shareholder in Aston Martin after buying a 37.5% stake of the business.
The Italian private equity fund will inject £150m into the luxury carmaker, which is hoping to expand its model range and strengthen the dealership network around the world.
The British company, which is owned by owned by Kuwait's The Investment Dar, said the value of the group was now £780m, compared with £630m prior to the deal.
Aston Martin's chairman David Richards said he was delighted with the investment by Investindustrial, which used to own Italian motorcycle maker Ducati.
"Investindustrial's new investment reflects and sustains the unique position of Aston Martin within the industry," he said.
"With this partnership and the continued commitment of The Investment Dar, we look forward to working with our shareholders as we realise our vision and exciting future plans."
Andrea Bonomi, senior principal at Investindustrial, added: "We are delighted to form part of this iconic global, but quintessentially British brand.
"We are looking forward to working with the management and Investment Dar to achieve a similar transformation and rejuvenation that we achieved with Ducati."
The 99-year-old carmaker - famous for its starring role in James Bond films - said it plans to invest more than half a billion pounds in its new product and technology programme over the next five years.
It added that production will remain at its global headquarters at Gaydon, Warwickshire, which currently employs a workforce of 1600 employees.
The deal comes after weeks of speculation over which investor would buy a chunk of the iconic car company.
Investindustrial beat Indian tractor maker Mahindra and Mahindra (M&M) to invest - despite M&M reportedly offering more than £250m for a stake of up to 50% in the sports car brand.
The maker of the DB9 and Vanquish sportscars has struggled over recent years, as the global economic downturn hits sales.
Last week, Aston Martin said it had sold 2,340 cars in the year to the end of September – down 19% on the year before.
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