Aston Martin seeks capital, new investors
April 1, 2009 by Matt Brogan
Aston Martin is in talks with investors to raise its capital as it looks to finance growth and protect itself from the global economic downturn.
Chief Executive Ulrich Bez (pictured left) said AM hoped to complete a deal this year, but does not expect its Kuwaiti investor, Investment Dar, to sell its stake.
“Aston Martin is not a typical car company like General Motors or Peugeot. We are very sensitive or careful in looking for the right partner for the long term,” Mr Bez said. “I can say there is a global interest which is not limited to the Middle East region.”
Bez was in Dubai to boost the brand’s image in the region.
Investment Dar said in December it was considering offers to sell up to 20 per cent of its stake in Aston Martin.
The Islamic investment firm bought a controlling stake in Aston Martin in 2007 from Ford for 479 million pounds (AU$994 million).
“Aston Martin is one of the most important assets in Investment Dar, therefore it is not about selling a stake but a question of how we can finance the growth in the future,” Mr Bez said. “We are looking for capital to finance future projects.”
Bez declined to identify the companies Aston Martin was in talks with, but said he hoped to seal a deal within the next three to six months.
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Well this will force Daimler Benz to decide whether or not it wants a piece of the Aston pie, won’t it.
Well I hope they get what they need. I must say though, if Aston Martin was to go bankrupt, at least they would be going out with the most beautiful cars on the road and a fantastic reputation.