ROME, Dec 07, 2012 – 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,” the firms said.
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.
Story first published: 7th December 2012