March 13, 2007
Ford sells Aston Martin to investment consortium but retains minority share
Gaydon, England – Aston Martin has announced that the company has been sold to a consortium, ending almost 20 years as part of the Ford Motor Company. The consortium is led by a group of investors, including two companies from Kuwait.
The sale is expected to close during the second quarter of 2007. The transaction values Aston Martin at US$925 million; Ford will retain a US$77 million investment in the British automaker.
The consortium is led by David Richards, John Sinders, Investment Dar and Adeem Investment. With full support of the investors, Dr. Ulrich Bez will remain as the company’s chief executive, a position he has held since 2000.
Leading the investors is David Richards, founder and chairman of Prodrive, a motorsport and automotive engineering company. He will join the board of Aston Martin as non-executive chairman in a personal capacity. Other investors include John Sinders, a banker in finance and shipping from Houston, Texas; Investment Dar of Kuwait, the largest listed investment company in the Gulf; and Adeem Investment of Kuwait, which owns companies in banking and finance, real estate and hotels, transport and logistics, food and telecoms industries.
Aston Martin will remain at its production facility at Gaydon in Warwickshire, a purpose-built facility with 1,800 employees. The company was founded in 1914; it currently builds the V8 Vantage, DB9, DB9 Volante, Vanquish S and V8 Vantage Roadster, and will be bringing the high-performance DBS to market. It has a network of 126 dealers in 27 countries.