Prodrive’s founder David Richards was previously reported to be leading a consortium to buy Aston Martin, and latest news is that Ford is now in exclusive talks with the motor racing company over the deal. Quoting unnamed sources, The Times of London has reported that Prodrive was having trouble raising finances to reach its bid, rumoured to be close to $875 million. However, Ford is said to be still interested in Prodrive because it placed the highest offer when bidding for Aston Martin closed back in late January.
Other potential groups in the final round of bidding were Doughty Hanson & Co., Syrian-born property magnate Simon Halabi and Egyptian investment bank Naeem Capital. If Prodrive’s bid falls through, it’s likely that one of these other consortiums will be the new owner of Aston Martin.
[Source: Motor Authority]
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Sunday, March 4, 2007
Prodrive in talks to buy Aston Martin
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