French luxury good group isn't the new owner of British sports car brand
2 February 2007

The French luxury goods maker that owns Louis Vuitton has issued a stinging rebuttal to internet rumours that the company is going to buy the Aston Martin sports car brand. A spokesperson for LVMH told Autocar that the rumour is “absolute rubbish". "There is no truth in this story whatsoever,” he went on.Sources with an involvement in the bidding process re-iterated that line: “the story is simply erroneous,” one told us.LVMH, a huge global outfit with annual sales of $14 billion, owns Moet & Chandon champagne, Glenmorangie scotch, TAG Heuer watches and the Louis Vitton fashion label. Further denying any interest, the spokesman said LVMH would not be the name revealed as Aston’s new owner in about one month’s time, when Ford and its advisors, London merchant bank UBS, will finish assessing the four concrete bids known to have been received for Aston.LVMH had shown interest last autumn along with about 25 other companies when Ford first put Aston Martin up for sale, but didn’t follow-up with a formal bid. “We didn’t even get to first base,” says the spokesman.According to the spokesman, an new investment fund co-owned by LVMH boss Bernard Arnault and a Belgian entrepreneur also looked at bidding, but similarly went no further when it realised Aston would cost over £400m – too high a price in its mind.Industry rumours also suggest that Aston Martin boss Ulrich Bez, the key figure in the post-sale future of the sports car maker thanks to his role as architect of Aston’s current revival, wasn’t keen on a new owner with zero automotive industry experience.

Julian Rendell

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • First Drive
    21 March 2018
    The new Vantage has been developed as a Porsche 911 beater, and our first taste on UK roads suggests it can live up to that bold claim
  • Nissan Leaf Tekna
    The is the new Nissan Leaf
    First Drive
    21 March 2018
    The new version of the world's best-selling electric car gains a bigger battery and more power. How does it compare to rivals such as the Volkswagen e-Golf?
  • Range Rover p400e
    First Drive
    20 March 2018
    The original luxury SUV is now available as a plug-in hybrid, promising lower emissions and the capacity for silent electric motoring
  • BMW i3s
    Car review
    20 March 2018
    Revised hatchback sets out its range-extended electric stall in a new, sportier tune
  • BMW X2
    This is the new BMW X2
    First Drive
    20 March 2018
    Doesn’t deliver many typical crossover selling points but looks perky, handles keenly and is well capable of winning over your latent cynic