Aston Martin looking for inverstors
By Andrew C., 30 Aug, 2010. 0 Comments
2012 Aston Martin Virage Coupe
It was made public by Ulrich Bez, CEO of Aston Martin, that the carmaker is currently in negotiations with several new investors as it attempts to increase its capital to meet the economic crisis. A deal could develop from these talks by the end of this year. Bez said that the investors came from all over the world and was not just limited to the Middle East and they would have to be willing to commit to a long-term partnership. Investment Dar, a Kuwait-based company, presently owns a 20 percent controlling stake in Aston Martin which it acquired two years ago in 2007.
Last December, Investment Dar was contemplating on selling its stakes, but this was reversed last February. Investment Dar said that they were not so much concerned with selling their stake as much as they were more concerned of funding the future since Aston Martin is one of their most significant assets.
Aston Martin, they claim, will be seeing expansion in the Middle East region as its sales continue an upward trend. The region, Bez explains, have stability and a population appreciation that is not found in other countries and in other regions, respectively. There were 600 jobs shelved by Aston Martin in the UK during the first months of this year, but Bez made assurance that there will be no more cuts since the market has already hit bottom.
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