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Aston Martin share sale
Kuwaiti part-owner of Aston Martin is close to a deal to offload some of its share
16 Dec 2008
By TERRY MARTIN
KUWAITI investment firm Investment Dar, which bought a 50 per cent stake in Aston Martin last year, is considering offers to sell a 10-20 per cent stake in the British marque on behalf of itself and some of its partners, according to a Reuters report this week.
The report also said the firm was seeking to borrow up to 300 million dinars ($A1.64 billion) to help it refinance short-term debt.
“We have offers... we are in talks but the (sale) should be value-added whether financially or technically,” Investment Dar executive vice-president Amr Abou El-Seoud told Reuters. “We are not considering selling and exiting.
“It (could) be a maximum 10 to 20 percent of the company to be taken out of all investors – in other words, Dar’s dilution might be in five to 10 per cent,” he said. “There is a 60 to 70 percent chance that we will reach a deal soon.” Mr Seoud declined to name the possible buyers or to give a reason for the sale.
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