You are here
Aston Martin news — Aston back in British hands - 2007
official: Aston Martin is back in British hands.
new owner of the luxury marque was today announced as a UK-led consortium
headed by Prodrive boss David Richards. In the consortium along with Richards
are US banker John Sinders and two Kuwait-based investment companies.
hugely profitable sports car firm has been sold off by Ford to raise some extra
money for the beleaguered automotive leviathan on the back of $12.7 billion
loss last year.
has owned the Aston Martin brand for nearly 20 years, taking a 75 per cent
stake in the company in 1987 and assuming full ownership in 1994. The sale is
believed to have boosted its coffers by £479m.
has been involved with Aston before, helping to develop rally and road versions
of the V8 Vantage. His Prodrive setup also runs the Aston Martin race team.
is expected that current Aston boss Dr Ulrich Bez will be asked to stay on at
the helm despite the change in ownership.