Mahindra bids for Aston Martin stake
Mumbai - AFP
Indian auto maker Mahindra and Mahindra is competing with Italian buyout firm Investindustrial for a stake in British luxury sports car maker Aston Martin, media reports said on Monday. “Mahindra has emerged as a frontrunner to become a strategic investor,” the Economic Times newspaper said, quoting an unnamed official with knowledge of the talks. “Discussions are still fluid. We are expecting the deal to get closed this week,” the report said. Aston Martin, made famous by its cars in James Bond movies, is owned by Kuwait-based finance firm Investment Dar, which bought it from Ford Motors for $767 million in 2007.
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