£150m investment will help develop the new Aston Martin models
Italian private equity firm Investindustrial has purchased a 37.5 percent stake in British carmaker Aston Martin. In a joint statement on Friday, Investindustrial announced that it will invest £150m in the vehicle
manufacturer, to aid its plans to spend £500m on new models over the next five years.
Kuwaiti Investment Dar retains its major shareholding in the Warwickshire-based carmaker.
The deal is a boost for Aston Martin, as it looks to compete with rivals Porsche and Ferrari in the motor industry. \"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,\" a statement read.
Investindustrial formerly held a stake in Italian motorbike company Ducati. The company\'s Senior Principal Andrea Bonomi said: \"We are delighted to form part of this iconic global, but quintessentially British brand. We are looking forward to working with the management and Investment Dar to achieve a similar transformation and rejuvenation that we achieved with Ducati, by expanding the model range and strengthening the dealership network, throughout the world.\"
Aston Martin will celebrate its 100th anniversary next year.