M&M bidding for Aston Martin stake
M&M competing with European group for 50 percent stakeautos Updated: Nov 26, 2012 19:01 IST
According to media reports, 50 per cent stake in Aston Martin could be sold before the end of the month. Bids have been made by Mahindra & Mahindra and European buyout group Invest Industrial. Although M&M are reported to have made the higher bid, Invest Industrial have also offered a technical partnership with Mercedes as part of the deal.
Aston Martin boss Dr Ulrich Bez recently told Autocar that the company was not for sale, but conceded the potential need for a technical partner. Aston Martin’s Kuwait owners Investment Dar led a consortium that bought Aston Martin for £493m (Rs 4,394.7 cr) in 2007.