Aston Martin May Be Sold This Week
|Topics: Aston Martin
March 6, 2007
Ford is experiencing the worst problem that it has faced in its entire existence. As a part of their restructuring plan, aside from cutting down the number of vehicles delivered to rental fleet, they have announced that one of their luxury brands has been put up in the market and is currently for sale. There have been many rumors as to who would buy the luxury brand. The brand in question is, of course, that one which created the car made famous by James Bond - the Aston Martin.
Reuters recently reported that the Ford Motor Company may reveal the sale of Aston Martin within this week. The leading provider of news all over the world reported that the brand may be sold for more than $865 million. A reliable source revealed that the sale may be concluded as early as this week although it is not yet being confirmed by Ford. In fact, not a word has come out of Ford regarding the issue after Reuters reported the projected date of the sale.
According to Reuters, Formula One team Prodrive seems to be the most possible owner of the marque. Reports added that the Formula One team is working with Egypt’s Naeem investment bank for financial aid perhaps. Although there are other bidders that may come out as the new owner of the luxury performance car brand, Prodrive is being viewed as the new machine that will shape the future of Aston Martin. Other interested bidders include the UK buyout firm Doughty Hanson. It seems that Ford is having talks with a host of interested parties for the sale of Aston Martin. If new developments arise, the projected time of the conclusion of the deal may still be delayed.
Another party interested in the acquisition of Aston Martin is the Syrian-born property tycoon Simon Halabi.
It can be remembered that Ford announced last year that they are looking to sell the ailing luxury brand in order to generate the much needed funds for other businesses that the company is in. The decision was reached after the further slide in terms of sales being experienced by the U.S. car maker. Although they have announced that they are willing to sell the brand either partially or entirely, it seems that the talks being conducted lead to the complete sale of the brand. While the sale of the luxury brand is not enough to completely stop the financial problem of Ford Motor as effective as EBC pads in stopping a car but it will definitely give Ford much needed boost in terms of financial status.
While Ford is selling the brand, Ford announced in January that the brand is in good standing due to renewed interest in the brand. The interest of the public on the brand may have been brought on by the talks surrounding the sale of the brand. And, of course, the appearance of Aston Martin cars on James Bond movies certainly did help.
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