Aston Martin SOLD!

[EnI]

12% to be exact (US$77 US$925 million of US$925 million)

It's 8.3% stake ($77million of $925million).

Also: the new shareholder is a consortium led by David Richards - involved on personal base (Prodrive company is not involved!!!). Other member of investment consortium are US investment banker John Sinders, and two Kuwaiti investment firms (Adeem Investment KSC, and Inivestment Dar Co.).

Ulrich Bez will hold his CEO position at AM, while Richards will joind the board as chairman / non-executive manager.

http://www.iht.com/articles/2007/03/12/bloomberg/bxford.php

http://www.astonmartin.com/thecompany/news?a=1a77ab65-8f1a-4793-b988-6fc0f2882719

 

[siko]

It's 8.3% stake ($77million of $925million).

LOL... thanks Eni. I switched the numbers when I divided them. To my defense, I was drunk last night!

 

[SCOTT27]

15% stake retained by Ford As per their agreement that Ford still maintains a stake in the company . That is why BMW closed the door on further negotiations.

 

[Centurion]

That is why BMW closed the door on further negotiations.

I would have done the samething myself.

 

[Imhotep Evil]

I feel sorry ... I had hopes of an AM V10.

 

[EnI]

Ford also retains a right of first refusal - for possible future buyback.

Mind that Ford retained a stake in AM to assure their deal with AM: to assure AM will still collaborate with Ford.

Now it's clear why car manufacturers were not interested in such deal.