Luxury-good maker Louis Vuitton to buy Aston Martin
February 1, 2007 11:10PM by Michael Savio
Yesterday we reported that bidding for Aston Martin had closed. According to German magazine Autobild, the winner the French luxury-goods company LVMH Moet Hennessy Louis Vuitton SA. LVMH was one of the first names dropped when Ford announced that it was putting Aston Martin up for sale. LVMH’s bid for Aston beat out a list of serious suitors that included groups led by current Aston boss Ulrich Bez, several billionaires, and investment firms.
Ford will reportedly retain a 15 percent interest in Aston Martin. LVMH declined to comment. A spokesman for Ford’s PAG said the process to sell Aston Martin “is ongoing”.
There is no word on any financial details.
## Source: MarketWatch ##
Posted in: Aston Martin, Ford, Business, News, Financial
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February 2nd, 2007 at 10:45PM
[…] Before rushing out to buy a new Louis Vuitton Aston Martin — based on the report that LVMH Moet Hennessy Louis Vuitton SA has won the bidding for the brand — you may want to wait. […]
February 6th, 2007 at 7:19PM
[…] The rumors that Aston Martin has been sold to LVMH, the $14 billion luxury goods conglomerate are “absolute rubbish,” according to an LVMH spokesman. “There is no truth in this story whatsoever,” he added. […]