Aston Martin

Posted on Oct 13, 2008 by

Aston
Martin, the iconic British sports carmaker controlled by Kuwait’s
Investment Dar, plans to sell shares in a new Middle East company,
which could be later listed. And by doing so, plans to raise
close to USD1.9 billion.

Aston
Martin would own a majority stake in the new firm, while the rest of
the shares are being sold to investors in the Gulf in a private
placement worth 500 million dinars, Chief Executive Ulrich Bez said
in an interview recently. The new company, which will help revamp
Aston Martin’s operations in the Gulf, could be listed after three
years depending on market regulations.

Bez
said the new company was part of efforts to expand operations in the
Gulf, where the economies benefit from high oil prices, to offset
weaker markets such as the U.S. or Europe hit more strongly by a
global financial crisis.

 

Bez
said the new company was part of efforts to expand operations in the
Gulf, where the economies benefit from high oil prices, to offset
weaker markets such as the U.S. or Europe hit more strongly by a
global financial crisis.

 

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