Aston seeks investment

Aston Martin Vanquish
28 Nov, 2012 5:42pm Jack Rix

Aston Martin is not up for sale but is looking for outside investment, its US boss tells Auto Express

Aston Martin is not for sale, but is just weeks away from sealing significant outside investment. The news that a portion of the company was up for sale broke earlier this week, but speaking with Auto Express at the LA Motor Show, Julian Jenkins, Vice President of Aston Martin The Americas has clarified the situation.

“Dar [current owners of Aston Martin] and the shareholder have made it clear that Aston is not up for sale, but capital investment into the company is under discussion,” Jenkins revealed. “There are a few parties involved and you’ll here more in the next couple of weeks.”

The two bidders, who won’t be allowed to take a controlling stake in the company, are believed to be Indian manufacturer Mahindra & Mahindra and Italian firm Investindustrial. Investment Dar Co. bought Aston Martin for £479 million in 2007, so it’s safe to assume the cash injection is likely to run into the hundreds of millions.

The cash injection will allow Aston to reevaluate a number of projects, such as the Lagonda SUV, as well as continuing to develop its core range.