Mahindra to Strike the Deal Next Week, Agrees To Take 40% Stake in Aston Martin - Indian Cars News

Earlier it was in news that the British luxury car maker Aston Martin is on bids for selling its stake but as of now, the auto group has cleared that company is not for sale, instead it is looking for capital injection into the business. And for the same, advance talks with prospective investors is under the way.

 
As it is already cleared that in the race of higher bidding, the home grown maker Mahindra & Mahindra has taken the lead to purchase necessary stake in this luxury auto group leaving behind private equity fund InvestIndustrial.

 
Speaking on the issue, a spokeperson from Aston Martin remarked that company is not for sale, and it is looking for more capital investment. Company’s existing shareholders, Investment Dar, are greatly dedicated to Aston Martin. He further added that Aston Martin’s 3rd quarter presentation to shareholders has been published, which show that the talks for venturing with investors is in higher stage.

 
Coming back to M&M efforts to win the lead, it is likely to strike the deal by the end of this week for an initial 40 percent stake for a total price of about  $400 million, which will be later converted to 50 percent.

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