Mahindra Hopes to Close Aston Martin Deal
Indian automaker Mahindra and Mahindra is hoping to close a deal on Aston Martin by the end of this week, having topped a previous offer from Italian private equity firm InvestIndustrial.
Kuwait-based Investment Dar continues to deny that it is considering bids for the British automaker, but sources are saying that bidders are figuring out issues regarding management control if a sale is to take place. It is believed that InvestIndustrial placed a bid around $400 million for Investment Dar’s stake in Aston Martin.
SEE ALSO: Aston Martin ‘For Sale’ Rumors Heat Up
Many are questioning the logic behind Mahindra’s acquisition of Aston Martin, seeing it as an opportunity to purchase a “trophy” brand that doesn’t serve an immediate benefit to the Indian automaker. Of course an investment of funds would immediately prove beneficial to Aston Martin, a brand that only sold 4,200 vehicles last year.
“It’s difficult to visualize a tractor and an Aston Martin in the same garage,” said Mads Kaiser, a fund manager with JI India Equity Fund. “The acquisition will broaden their portfolio but doesn’t add anything to their tractor or India portfolio.”
[Source: Automotive News]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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