Wednesday, October 22, 2014   

Italian fund buys stake in Aston Martin
(12-07 19:09)

Italian private equity fund Investindustrial has bought a 37.5 percent stake in legendary British carmaker Aston Martin, the companies said in a joint statement on Friday.
"Investindustrial is investing 150 million pounds (186 million euros, $240 million) in Aston Martin in the form of a capital increase for a 37.5-percent stake,'' they said in a statement, AFP reports.
There had been a bid from Indian jeep maker Mahindra & Mahindra for the stake.
Aston Martin said it would now proceed "with its extensive and exciting plans for sustainable long-term growth''.
Andrea Bonomi, senior principal at Investindustrial, said: "We are delighted to form part of this iconic global, but quintessentially British brand.''
Investindustrial used to own Italian motorcycle maker Ducati.
   
Other Business breaking news:
Hong Kong's consumer prices rose in September (10-21 19:54)
Nikkei ends lower (10-21 17:30)
Hang Seng edges up (10-21 17:29)
Hang Seng down by lunch (10-21 12:25)
Amazon, Simon & Schuster sign book retail deal (10-21 12:09)
Japan air bag maker Takata plunges on US recall (10-21 12:08)
China economic growth falls to five-year low: govt (10-21 11:40)
Profit taking sends Nikkei lower by break (10-21 10:57)
Qatar to buy stake in Sogo's operator (10-20 13:03)
Hang Seng up at midday (10-20 12:37)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.