Ford to sell Aston Martin by Friday
Iconic luxury division, will be sold by the end of the week, sources said at the opening day of the Geneva Motor Show, according to The Daily Telegraph.
"It's a done deal. All that remains is to cross the t's and dot the i's," said a senior source, according to the newspaper.
"It's a done deal. All that remains is to cross the t's and dot the i's," said a senior source, according to the newspaper.
Aston Martin owner Ford is expected to sign the deal early on Friday in Detroit, The Telegraph said. The sale will see ownership of the 86-year-old British GT maker transfer to a consortium of business interests from the U.S. and the Middle East, headed by Prodrive founder and world rally championship owner David Richards, the newspaper said.
Prodrive, which runs Aston Martin's works racing team and has worked with the company for many years, has emerged ahead of the remaining bidders, Doughty Hanson and Syrian property businessman Simon Halabi, The Telegraph said.
The price is rumored to be in the region of GBP500 million, about half what Ford was asking when it first put the company up for sale six months ago, The Telegraph said.