Investindustrial buys stake in Aston Martin1 min read . Updated: 07 Dec 2012, 06:29 PM IST Investindustrial signs Rs 1,308 crore deal for a 37.5 percent stake in Aston Martin.
Italian private equity fund Investindustrial has signed a deal to invest £150m ( ₹1,308.23 crore) for a 37.5 percent stake in the British sports car company. As part of the announcement, the new-shape company will invest £500m (₹4,360.77 crore) in new product development over the next five years.
Mahindra & Mahindra was previously thought to be the favourites in the deal, offering a significantly greater cash injection. Although Investindustrial had reportedly offered a technical partnership with Mercedes and AMG as part of the bid, the announcement of the deal did not mention a technical tie-in with Mercedes' performance arm.
Investindustrial owned Ducati until earlier this year when it sold the company to Audi for $1.1bn (₹9,593.7 crore).
Under the new deal, Investindustrial will become a shareholder alongside current Aston owner Investment Dar.