Ford puts Aston Martin in ejector seat

FORD is close to agreeing to the £450 million ($A1.1 billion) sale of the classic Aston Martin British car business to a consortium led by motor enthusiast David Richards.

The US car maker is being forced to sell the luxury sports car brand in an effort to repair its balance sheet, but will retain about 15 per cent of the business.

Mr Richards has secured backing from Kuwaiti companies Investment Dar and Adeem Investment. Another name mentioned as a backer is Naeem Capital, part of an Egyptian investment bank. Mr Richards is also said to have won support from US investors.

Read Full Article from The Age

- Posted: 2007-03-12 09:57:08

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