Sun, 25 Nov 2012 17:45:00 GMT | By Reuters

Aston Martin at centre of bid war after M&M offer

Italian private equity fund Investindustrial reached an agreement with the owner, Kuwaiti investment house Investment Dar, but Mahindra and Mahindra made a higher offer


Aston Martin at centre of bid war after M&M offer (© Reuters)

Milan/Mumbai: Aston Martin stands at the centre of an international takeover battle after Mahindra and Mahindra trumped an Italian bid for half of the British luxury car maker.

Italian private equity fund Investindustrial reached an agreement on Thursday with the owner, Kuwaiti investment house Investment Dar, but Mahindra and Mahindra made a higher offer on Friday, leaving the fate of the 98-year-old icon of British motor engineering hanging in the balance, sources familiar with the discussions said.

Aston Martin makes the cars immortalised by James Bond films down the decades in Gaydon, Warwickshire, the heartland of England's early 20th century motor manufacturing heyday.

The company was sold in 2007 by U.S.-based Ford Motor Co. for 479 million pounds, to Kuwait's Investment Dar and another Kuwait fund, Adeem Investment Co.

(Continued)
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