Italian fund buys 37.5% stake in Aston Martin: report
Friday, 07 December 2012
ROME: Italian private equity fund Investindustrial has bought a 37.5 percent stake in legendary British carmaker Aston Martin, the companies said in a joint statement on Friday.
"Investindustrial is investing 150 million pounds (186 million euros, $240 million) in Aston Martin in the form of a capital increase for a 37.5-percent stake," the firms said.
There had been a bid from Indian jeep maker Mahindra & Mahindra for the stake.
Aston Martin said it would now proceed "with its extensive and exciting plans for sustainable long-term growth".
Andrea Bonomi, senior principal at Investindustrial, said: "We are delighted to form part of this iconic global, but quintessentially British brand."
Investindustrial used to own Italian motorcycle maker Ducati. (AFP)