Tata and Mahindra in a tussle to buy Aston Martin?
Posted on: Nov 17, 2012 - 3:02pm IST
The British supercar manufacturer was owned by Ford from 1994 to 2007 after which the ownership switched hands. The company is now owned by a firm backed by Kuwaiti group Investment Dar and it’s again for sale.
We brought you the news that Mahindra is on the run to make Aston Martin theirs and now Birmingham Post reports that Tata Motors is also in the race to bag the Bond Brand.
The financial and automotive media have been continuously reporting that Mahindra is indeed one of the front runners along with Toyota to buy out the 64% of stake held by Invesment Dar in Aston Martin.
The latest report suggests that Tata has also held talks with the higher ups of the Gaydon based firm for a potential buyout.
Another report speculates that Toyota has already commenced due diligence on the books at Aston Martin with a rumoured value of around £ 500 million pounds for the 64% stake. Investment Dar bought Aston Martin from Ford for £ 479 million in 2007.
It’s said that Tata Motors are not in the lead but high level talks are being held. Industry experts believe that Tatas have a better chance of reviving the economically wounded supercar marque since it can arrange for synergies with Jaguar brand when it comes to technologies.
On contrary to the reports, an official spokeswoman at Aston Martin maintained that the firm is not for sale and dismissed the reports as rumours.
We are closely monitoring the proceedings and will know the actual happenings in few weeks.
Don’t you think an Indian owner for Aston Martin will be cool?