Monday, March 12, 2007

Aston Martin back in the hands of Britishers

A lot of Britishers will be happy today.

Ford Motor has agreed to sell controlling stake in Aston Martin, the luxury marque made famous by James Bond, to a U.K. led consortium headed by Dave Richards for £479 million (US$924 million). Read the official press release here. This is part of Ford's restructuring plan.

It's not totally in British hands, as the Consortium is backed by Kuwaiti investors, namely Investment Dar and Adeem Investment. Also Ford still retains a £40 million (US$77 million) stake (approx. 13% of its value) in the Warwickshire based company.

Related link:
- Aston Martin 'has great future'
- British Reclaim Aston Martin

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