Sale of Aston Martin to be Announced Tomorrow
By Brendan Moore
Ford will announce the sale of Aston Martin tomorrow, according to multiple news agencies. The buyer is almost certainly Prodrive, the company that currently runs Aston Martin’s racing program. Ford is expected to sell Aston Martin to Prodrive for approximately $870 million USD. The financing that Prodrive needs for the deal is coming from a consortium that includes Egypt’s Naeem investment bank and several American investors. One of the terms of the deal would leave the current CEO of Aston Martin, Ulrich Bez, in charge of the famous automaker.
Fans of Aston Martin are expected to be quite happy with the overall sale as there were fears that the fabled company would be sold to someone that would either not possess enough capital to adequately maintain the company’s reputation going forward, or, conversely, a large corporation that would dilute Aston Martin’s sporting focus.
While not commenting on the prospective sale today, Ford reiterated that Volvo, Jaguar, and Land Rover, their remaining luxury brands, are not for sale.
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