Aston Martin fans won't be cheered by deal with private equity group
December 7, 2012
News that private equity firm InvestIndustrial has won the battle to buy 37.5 percent of British luxury sports car firm Aston Martin won't be cheered by fans of the 99-year-old brand, despite the Italian group's promise to invest 150 million pounds ($240 million).
Aston has been cash-starved since Ford offloaded it in 2007 on Middle Eastern shareholders led by Investment Dar.
CONTINUE READING AT: http://europe.autonews.com/article/2...e-equity-groupPrivate equity firms such as InvestIndustrial are traditionally more hard-headed. The view among more knowledgeable fans in Britain is that it will invest just enough to polish the company for a profitable resale, such as happened with Italian bike maker Ducati. The fear is it won't invest enough to create a new body architecture as well a new range of engines to replace the ageing V12 and V8. These naturally aspirated units are currently built by Ford in a dedicated engine factory in Cologne, Germany.