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Aston Martin seeks investors
01 April 2009
Aston Martin boss Ulrich Bez has revealed the company is in talks with several new investors as it tries to boost its capital during the current economic slowdown.
Bez, Aston Martin’s CEO, said there was interest from several new investors and a deal could be in place by the end of the year.
Speaking in Dubai, Bez added that the interested parties were from all over the world and not just confined to the Middle East, and that any new investor would have to be willing to enter into a long-term partnership.
Kuwait based Investment Dar currently owns a 20 per cent controlling stake in Aston Martin, which it purchased from Ford in 2007.
The group said in December it would consider offers to sell its stake, but reveresed that decision last month.
He said: “Aston Martin is one of the most important assets in Investment Dar, therefore it is not about selling a stake but a question of how we can finance the growth in the future.”
He also confirmed that Aston Martin would be increasing its presence in the Middle East, as sales in the region had continued to grow.
“This region does have stability and growth which is more than any other country, and it has a population growth which is more than any other region,” he said.
Aston Martin made 600 job cuts in the UK earlier this year, but Bez said that any further cuts were unlikely as he felt the market had bottomed out.
Mark Tisshaw
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