Prodrive leads bidding for Aston Martin
March 5, 2007 2:22PM by Michael Savio
As we reported earlier today, Ford could announce the sale of Aston Martin as soon as this week. According to The Times, Ford is in exclusive talks with Prodrive for the sale of Aston Martin. Prodrive currently runs Aston Martin’s racing team and Subaru’s world rally team. It will enter Formula One with its own team in 2008.
According to sources, Ford had selected Prodrive because its bid — thought to be close to £450 million — was higher than the other bidders. It seems the hold up is that Prodrive is having some trouble financing its bid. Prodrive’s founder, David Richards, is working with investors to secure financing. British private equity group Apax owns a 49 percent of Prodrive but is not involved in the Aston Martin bid.
As expected, neither Ford nor Prodrive would comment.
## Source: TimesOnline ##
Posted in: Aston Martin, Ford, Supercars, Business, News, Financial
RSS 2.0 Feed |
Comments | Permalink |
Email This Post
Headlines
» Mazda considering Hakaze-inspired CX-5?» Magna offers $4.7 billion for Chrysler
» BMW details new 420-hp V8 for next M3
» Production Ford Fairlane crossover to be called Flex
» Lutz confirms V12-powered Cadillac flagship
» Honda recalls 165,000 cars and trucks in the U.S.
» BMW considering X1 small crossover
» Volkswagen announces Wolfsburg Edition Passat
» Spy Shots: BMW 1-Series Coupe
» Spy Shots: Facelifted 2008 Saab 9-3 Convertible
March 5th, 2007 at 9:59PM
[…] brands. Last year, Ford announced that it is looking to sell Aston Martin. Current reports say the sale is imminent, and could be announced as soon as this […]
March 13th, 2007 at 9:40AM
[…] officially announced that it has sold Aston Martin, its luxury sports car brand, to an investment group lead by David Richards, Prodrive founder and […]