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Could Prodrive be the one? Company in "exclusive" talks with Ford to buy Aston Martin

Could Prodrive be the one? Company in "exclusive" talks with Ford to buy Aston Martin

Siddarth Raja March 4th, 2007 Siddarth Raja By Siddarth Raja Author March 4th, 2007
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December 31st, 1969 Prodrive’s founder David Richards was previously reported to be part of a consortium including Egyptian investment bank Naeem Capital to buy Aston Martin, and latest news is that Ford is now in exclusive talks with Prodrive over the deal. Quoting unnamed sources, The Times of London has reported that Prodrive was having trouble raising finances to reach its bid, rumored to be close to $875 million. However, Ford is said to be still interested in the motor racing company because it placed the highest offer when bidding for Aston Martin closed back in late January. Other potential groups in the final round of bidding were Doughty Hanson & Co. and another run by Syrian-born property magnate Simon Halabi. If Prodrive’s bid falls through, it’s likely that one of these other consortiums will be the new owner of Aston Martin.
Could Prodrive be the one? Company in "exclusive" talks with Ford to buy Aston Martin

Could Prodrive be the one? Company in "exclusive" talks with Ford to buy Aston Martin

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Prodrive’s founder David Richards was previously reported to be part of a consortium including Egyptian investment bank Naeem Capital to buy Aston Martin, and latest news is that Ford is now in exclusive talks with Prodrive over the deal. Quoting unnamed sources, The Times of London has reported that Prodrive was having trouble raising finances to reach its bid, rumored to be close to $875 million. However, Ford is said to be still interested in the motor racing company because it placed the highest offer when bidding for Aston Martin closed back in late January.

Other potential groups in the final round of bidding were Doughty Hanson & Co. and another run by Syrian-born property magnate Simon Halabi. If Prodrive’s bid falls through, it’s likely that one of these other consortiums will be the new owner of Aston Martin.

Tags: Industry

Posted in: Aston Martin, Ford, News


Comments (2 total)

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  1. By Eric #1, Posted: 3/4/2007

    Much as I love your site, Naeem Capital is not currently placing a bid on Aston Martin on its own. The company is part of an Egyptian investment bank, an investor which David Richards is understood to be working with.

  2. By admin #2, Posted: 3/4/2007

    Thanks for the tip. The story has been edited.

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