M&M competing with European group for 50 percent stake
According to media reports, a 50 per cent stake in Aston Martin could be sold before the end of the month. Bids have been made by Mahindra & Mahindra and European buyout group InvestIndustrial. Although M&M are reported to have made the higher bid, InvestIndustrial has also offered a technical partnership with Mercedes as part of the deal.
Aston Martin boss Ulrich Bez recently told Autocar that the company was not for sale, but conceded the potential need for a technical partner. Aston Martin’s Kuwait owners Investment Dar led a consortium that bought Aston Martin for £493m (Rs 4,394.7 crore) in 2007.
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