A rumor rated as 'speculation' is one that has no supporting information
A rumor rated as 'strong' is one where we received information from more than one source.
A rumor rated as 'fact' is one that has proven to be true
A rumor rated as 'false' is one that has proven to be false based on new information
These rumors are just that, RUMORS, and are not to be taken as 'fact'
unless so noted. Please visit our Hot News page for news. If you have a rumor, or can supply
more information about one listed here,
e-mail us with as
much supporting information as possible and we may post it. User Agreement and Disclaimer.
Newer rumors supersede older ones of the same topic. Go to our
discuss any rumor.
Aston Martin on the blocks Aston Martin's controlling shareholder, Investment Dar Co., has approached potential buyers for the maker of luxury sports cars featured in James Bond movies, five people with knowledge of the matter told Bloomberg.
The Kuwaiti company, which owns 64 percent of Aston Martin, has hired Rothschild to advise on the sale, said one of the people, who asked not to be identified because the talks are private. Mahindra & Mahindra Ltd., the Indian automaker, is among potential suitors Investment Dar has approached in recent few months, two of the people said.
A sale has proven difficult because investors haven't been willing to match the price the Kuwaiti owner paid Ford Motor Co. five years ago, said two of the people. Investment Dar has sought about $800 million for its stake, one person said.
Aston Martin vehicles have been featured in 11 James Bond movies, including the vintage silver DB5 in the latest one, "Skyfall."
For Kuwait's Investment Dar, part of the group that bought Gaydon, U.K.- based Aston Martin for 503 million pounds ($805 million) in 2007, the proceeds would help the company pay off debt. A new backer for Aston Martin may help the maker of the 1.2-million-pound One-77 to develop cars that can challenge Volkswagen AG's Bentley and Fiat SpA's Ferrari.
"I don't think you can truly compete without having the capabilities of a large car company behind you," said John Wolkonowicz, an independent auto analyst. "There are very few examples of sustained success without it."
A representative at Investment Dar who asked not to be named denied the company is seeking to sell Aston Martin.
Copyright 1999-2014 | AutoRacing1 is an
independent internet online publication and is not affiliated with, sponsored by, or endorsed
by IndyCar, NASCAR, FIA, Sprint, or any other series sponsor.
This material may not be published, broadcast, or redistributed without