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.
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