Mahindra & Mahindra in a Bidding War to Own Luxury Car Company Aston Martin
Having changed hands from Ford Motors to Investment Dar in 2007, British luxury car maker Aston Martin is up and about, looking for a strategic investor who could own as much as a 50% stake in the company.
Interestingly the two companies battling it out for the coveted slot are Italian private equity fund InvestIndustrial and Indian SUV manufacturer and tractor maker Mahindra & Mahindra.
The current scenario indicates that the bid lies in favour of M&M, and the company could initiate a deal with 40% stake, while holding rights to up the deal by an additional 10% over the next four years, says Economic Times.
Having to front possible over £250 million, this is a remarkably bold move by M&M considering they presently have no luxury sportscars or supercars in their portfolio.
M&M stands to gain a lot from this cult luxury cars brand which has made a star-studded Hollywood appearance in as many as 11 James Bond flicks. The acquisition of a major stake in Aston Martin will certainly refurbish M&M’s utility vehicle manufacturer tag, and up its glam quotient by quite a few notches. Anyone else waiting to see Bond roll out in an M&M stamped ride?