Photo: Aston Martin
It seems that the story of the sale of Aston Martin is far from over, and after previously announcing that the Indian company, Mahindra & Mahindra, was close to finalizing the deal, it seems they now have a new contender, in the form of Chinese automaker Geely.
They are apparently highly-interested in acquiring the famed British brand, and they will be adopting a similar tactic to the one they used when buying Volvo - they will try to convince the local government to join the bid, either in a direct fashion, by paying up front, or through some sort of investment firm.
The Kuwaiti company that currently owns Aston reportedly wants $800 million for a 64% stake in the company, and since Geely is expanding in China, where they are making a large chunk of their entire profits, while Volvo is slowly on its way up, they could feasibly raise the money needed to actually do the deal.
Also, since they seem to have done a good job at Volvo, and already have experience in buying and running world-renowned automaking brand, perhaps they would be better at it than either Mahindra or Investindustrial, the Italian company which is also interested in buying Aston.
Story via carnewschina.com and auto.sohu.com
The Kuwaiti company that currently owns Aston reportedly wants $800 million for a 64% stake in the company, and since Geely is expanding in China, where they are making a large chunk of their entire profits, while Volvo is slowly on its way up, they could feasibly raise the money needed to actually do the deal.
Also, since they seem to have done a good job at Volvo, and already have experience in buying and running world-renowned automaking brand, perhaps they would be better at it than either Mahindra or Investindustrial, the Italian company which is also interested in buying Aston.
Story via carnewschina.com and auto.sohu.com
Google News