Ford Motor Company announced at 1pm today that it has agreed to sell Aston Martin to a consortium comprised of David Richards, John Sinders, Investment Dar and Adeem Investment Co. Ford had announced in August 2006 that it would explore strategic options for the Aston Martin business.
The sale is expected to be completed during the second quarter, subject to customary conditions, including applicable regulatory approvals. The transaction values Aston Martin at £479 million. Ford will retain a £40 million investment in Aston Martin.
The new owner of Aston Martin is a consortium comprising David Richards, founder and chairman of Prodrive, the motorsport and automotive technology company which already runs the Aston Martin racing team; John Sinders, a banker an Aston Martin collector who is a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, two Kuwaiti international investment companies.
