Ford to sell Aston Martin (Update- Its Done!! Sold to Prodrive on Pg 6)
02-04-07, 12:14 PM
#76
So I went and checked out the LVMH website (I was curious) and I honestly had no idea that they were such a big company!! Am I the only one that didnt know they own a crap load of upscale brands??
Moet, Dom, Krug, Belvedere, Hennessey, Chopin are only some of the wine and spirit brands.
Then theres LV, Givenchy, Marc Jacobs, Fendi, DKNY, Dior, Tag Hauer, De Beers, Zenith, Sephora.... just to name a few. Theres plenty more.
Could you imagine upcoming Aston Martin Special Editions with LV luggage, Champagne glasses with Dom, and his and her Tag Gauer watches?? Seems like a perfect match for Aston Martin. They are definitely in good company.
02-06-07, 09:55 AM
#80
Super Moderator
LVMH says Aston purchase is pure rumor
LVMH says Aston purchase is pure rumor
Posted Feb 6th 2007 11:00AM by Scott Davis
It looks like you won't be getting any custom luggage or wallet with your new Aston-Martin anytime soon. The rumors that LVMH, the $14 billion dollar conglomerate that owns such notable brands as Moet & Chandon champagne, Glenmorangie scotch, TAG Heuer watches and the Louis Vitton fashion label, will purchase Ford's Aston-Martin are in the company's words, "pure rubbish."
A company spokesman states that LVMH will not be the name announced when Ford finishes assessing the four serious bids for the automaker that are currently on the table. When the price was announced, nearly $800 million US, LVMH felt that was way too high and ended any serious consideration to purchase Aston-Martin.
The denial by LVMH is confirmation of part of the Motor Trend report that was published on the magazine's blog last Friday. MT's sources say that the buyer is a private investment firm.
Rumors are also circulating that the real reason is that current Aston-Martin boss Ulrich Bez was not interested in selling the company to a party without any automotive background. Couldn't he provide the automotive direction required to continue the resurgence at AM? We were really looking forward to AM-branded accessories, champagne, scotch and DB9-edition Tag Heuer.
[Source: Autocar]
Posted Feb 6th 2007 11:00AM by Scott Davis
It looks like you won't be getting any custom luggage or wallet with your new Aston-Martin anytime soon. The rumors that LVMH, the $14 billion dollar conglomerate that owns such notable brands as Moet & Chandon champagne, Glenmorangie scotch, TAG Heuer watches and the Louis Vitton fashion label, will purchase Ford's Aston-Martin are in the company's words, "pure rubbish."
A company spokesman states that LVMH will not be the name announced when Ford finishes assessing the four serious bids for the automaker that are currently on the table. When the price was announced, nearly $800 million US, LVMH felt that was way too high and ended any serious consideration to purchase Aston-Martin.
The denial by LVMH is confirmation of part of the Motor Trend report that was published on the magazine's blog last Friday. MT's sources say that the buyer is a private investment firm.
Rumors are also circulating that the real reason is that current Aston-Martin boss Ulrich Bez was not interested in selling the company to a party without any automotive background. Couldn't he provide the automotive direction required to continue the resurgence at AM? We were really looking forward to AM-branded accessories, champagne, scotch and DB9-edition Tag Heuer.
[Source: Autocar]
03-05-07, 11:17 AM
#81
03/05/2007
LONDON (Reuters) -- Ford Motor Co. could announce the sale of its Aston Martin luxury performance cars unit for more than £450 million ($865 million) as early as this week, a source familiar with the matter said Monday.
Motor racing firm Prodrive, working with Egypt's Naeem investment bank, is frontrunner to buy the British maker of cars made famous by the James Bond spy movies, although other bidders such as UK buyout firm Doughty Hanson are still in the process should talks fall through, the source said.
ford_factory_engine_auto.03.jpg
The timing of the deal could also yet slip, the source added.
Doughty Hanson and Syrian-born property tycoon Simon Halabi also submitted second-round offers for Aston Martin in an auction being run by investment bank UBS AG, sources familiar with the matter said last month.
Ford said last year it would sell all or part of Aston Martin to raise funds for other businesses.
Aston Martin is on solid financial footing, a top Ford official said in January, adding that its sales increased by around half last year to about 6,500 cars.
Ford (Charts) declined to comment.
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Ok, perhaps I am missing something, but with Ford hurting, why sell what is making them money? Raise capital for what? R&D for higher sales volume cars?
LONDON (Reuters) -- Ford Motor Co. could announce the sale of its Aston Martin luxury performance cars unit for more than £450 million ($865 million) as early as this week, a source familiar with the matter said Monday.
Motor racing firm Prodrive, working with Egypt's Naeem investment bank, is frontrunner to buy the British maker of cars made famous by the James Bond spy movies, although other bidders such as UK buyout firm Doughty Hanson are still in the process should talks fall through, the source said.
ford_factory_engine_auto.03.jpg
The timing of the deal could also yet slip, the source added.
Doughty Hanson and Syrian-born property tycoon Simon Halabi also submitted second-round offers for Aston Martin in an auction being run by investment bank UBS AG, sources familiar with the matter said last month.
Ford said last year it would sell all or part of Aston Martin to raise funds for other businesses.
Aston Martin is on solid financial footing, a top Ford official said in January, adding that its sales increased by around half last year to about 6,500 cars.
Ford (Charts) declined to comment.
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Ok, perhaps I am missing something, but with Ford hurting, why sell what is making them money? Raise capital for what? R&D for higher sales volume cars?
03-08-07, 11:07 AM
#86
Super Moderator
03-09-07, 09:40 PM
#87
Aston Martin would be sold by the end of the week, sources said yesterday at the opening day of the Geneva Motor Show. "It’s a done deal. All that remains is to cross the t’s and dot the i’s." Aston Martin will sign the deal early on Friday in Detoit. The sale will transfer ownership of the Aston Martin to Prodrive, owned by David Richards. The price is rumoured to be in the region of £500m, about half what Ford was asking when it first put the company up for sale six months ago.
03-09-07, 09:40 PM
#88
Aston Martin would be sold by the end of the week, sources said yesterday at the opening day of the Geneva Motor Show. "It’s a done deal. All that remains is to cross the t’s and dot the i’s." Aston Martin will sign the deal early on Friday in Detoit. The sale will transfer ownership of the Aston Martin to Prodrive, owned by David Richards. The price is rumoured to be in the region of £500m, about half what Ford was asking when it first put the company up for sale six months ago.
03-13-07, 01:25 PM
#89
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Its Done!! Ford's sale of Aston is....
to Prodrive..
Goodbye Subaru WRC, Hello Aston Martin F1
It has been confirmed today that Prodrive's owner/founder David Richards has bought Aston Martin from Ford, for $$925 million.
Full Article, Compliments Autoblog HERE
I would really like to congratulate Ford on the excellent job they did while they owned Aston. They brought the company into the 21st century and it is posting profits for the first time since........ ummm I dunno. [2thumbsup]
I hope Prodrive will take good care of it, and continues to keep the brand and the cars at the level they are and even improving upon them. [applause]
Goodbye Subaru WRC, Hello Aston Martin F1
It has been confirmed today that Prodrive's owner/founder David Richards has bought Aston Martin from Ford, for $$925 million.
The deal is done, and it happened exactly the way everyone expected it to. Ford Motor Company has sold Aston Martin to a consortium led by Prodrive founder David Richards, Aston Martin collector John Sinders, and Investment Dar and Adeem Investment Co, two international investment companies headquartered in Kuwait. The sale price is for $925 million, and Ford will retain a $77 million stake in the sports car maker, which means Ford will actually get only $848 million for Aston Martin. Ford sounds pleased with the deal in the press release it issued this morning, stating Aston Martin is better off with a company that offer it more capital to work with. The deal is scheduled to hit the balance sheet in the second quarter, which means we might be seeing Ford temporarily in the black then because of this one-time special gain.
I would really like to congratulate Ford on the excellent job they did while they owned Aston. They brought the company into the 21st century and it is posting profits for the first time since........ ummm I dunno. [2thumbsup]
I hope Prodrive will take good care of it, and continues to keep the brand and the cars at the level they are and even improving upon them. [applause]
