Kuwaiti Group Looks to Unload Aston Martin

by Jared Paul Stern (RSS feed)
Mar 6th 2009 at 4:02PM

Investment Dar, the Kuwaiti investment group that owns a controlling interest in Aston Martin, is in talks to sell a stake in the company that could pave the way for new ownership, the Financial Times reports. Investment Dar paid Ford over $900 million for its majority stake in Aston Martin back in 2007, but the economic downturn has forced it to reconsider the position. The group has received several expressions of interest in a stake in the famed marque as a part of the company's plans to restructure its debt, sources tell the newspaper. Aston's sales volume in the UK, which accounts for about a third of the worldwide total, fell 25% in the year through October, forcing the company to cut its workforce by one third. Plans for restructuring are expected to be finalized by March 16. Nonetheless, Aston unveiled some new models at this week's Geneva Motor Show, including the DBS Volante and limited edition V12 Vantage (above).

Tags: Aston Martin, AstonMartin, Investment Dar, InvestmentDar, Kuwait