Kuwait Group announces that it has received offers to sell its stake in Aston Martin!

And get a load of this; Investment Dar said the offers are worth $720 million, about 50% more than what they Kuwait based company paid to get the stocks two months ago! In case you missed the Aston Martin episode, we remind you that Kuwait’s Investment Dar was part of a consortium lead by Prodrive owner David Richards that paid $925 million to acquire the British firm from Ford. The Kuwaiti holding company took a 50 percent of that stake, while it should be noted that Ford retained a $79.8 million (40 million pounds) investment in Aston Martin.

Investment Dar Executive Vice President Amr Abou El Seoud said in a statement to Reuters, "We're getting bids at a 50 percent profit”. However, Seoud added, "We have a plan and strategy that we would love to see implemented before thinking seriously about selling”. If the Kuwaiti holding company is speaking truth and its not some kind of a trick on their behalf, some people down at FoMoCo must be feeling pretty damn awkward. Via: Automotive News

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Aston Martin DBS: Vanquish replacment scooped

This is the car that will replace the Vanquish when the latter goes out of production this summer. Dubbed DBS, Aston Martin’s top-of-the-range supercar features a restyled BD9 body with an carbon-fibre aerodynamic kit. Under its bulging bonnet the DBS is expected to get a 6-liter V12 pumping out more than 520Hp. Source: PistonHeads , Via: Motorpasion

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Breaking News: Aston Martin Sold to a consortium led by Prodrive’s David Richards for 925 million USD

We had already prepared you about this sale last week, so it’s not much of a surprise. The deal went down at £479 million - $925 million - 705 million EUR and as part of the transaction, Ford will retain a £40 million - $77 million - 59 million EUR investment in the British car maker. Aston Martin’s new owner is a consortium comprised of: David Richards, founder and chairman of UK Prodrive; John Sinders, Aston Martin collector and a backer of Aston Martin Racing; and finally, Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait.

“This is an incredible opportunity – Aston Martin is one of the world’s most iconic brands,” said David Richards. “We are confident we now have all the right ingredients to take Aston Martin to even greater heights.” On Ford’s behalf, CEO Alan Mulally stated, "The sale of Aston Martin supports the key objectives of the company, to restructure to operate profitably at lower volumes and changed model mix and to speed the development of new products" -Continued: Click “Read More…” below to see Ford’s & Aston Martin’s Press Releases

ASTON MARTIN PRESS RELEASE

Gaydon March 12, 2007: Aston Martin is pleased to announce the start of a new chapter in its illustrious history following the announcement today that the prestigious sports car manufacturer has been sold to a consortium led by David Richards, John Sinders, Investment Dar and Adeem Investment, ending almost twenty years as part of Ford Motor Company.

The consortium is a group of sophisticated investors who are committed to the brand, its success and existing business plan which envisages growth, profitability and new products, including the much acclaimed four door concept Rapide, shown for the first time at the Detroit Auto Show in 2006.

With the full support of the investors, Dr Ulrich Bez remains committed to the future success of Aston Martin and will lead the management team into a new era as its Chief Executive. Since his appointment in 2000 he has overseen a period of growth and investment, steering Aston Martin to its unparalleled status in the world luxury sports car market. During the past six years the company has seen a tremendous change with new headquarters, exciting new products, a successful motorsport programme and a strong corporate identity throughout the expanding dealership network.

Leading the investors is David Richards, founder and chairman of Prodrive, a world leading motorsport and automotive engineering company. He will be joining the board of Aston Martin as non executive chairman in a personal capacity.

“This is an incredible opportunity – Aston Martin is one of the world’s most iconic brands,” said David Richards. “We are confident we now have all the right ingredients to take Aston Martin to even greater heights.”

John Sinders, a banker in finance and shipping from Houston, Texas and Dubai UAE, is an Aston Martin owner with a great affection for the brand on both road and track.

Investment Dar, a Kuwaiti company, is the largest listed investment company in the Gulf. It owns and manages a group of companies including banking, finance, investment and asset management, real estate, insurance, banking, and logistics. Investment Dar has total assets of US$ 3.66 billion, with net income of US$ 317.3 million in 2006.

Adeem Investment is a Kuwaiti company and owns companies in the banking and finance, real estate and hotels, transport and logistics, food and telecoms industries. It has become the fastest growing investment, corporate finance and asset management company in Kuwait with assets under management in excess of US$ 1.5 billion.

Jefferies & Company acted as financial adviser to the Consortium.

“This new partnership is a tremendously exciting opportunity for Aston Martin,” said Ulrich Bez. “Under the ownership of Ford we have become a successful, profitable company and I will be working with the new owners to build on this great foundation. It is a new beginning which will give the company the opportunity to attain an even higher level of excellence.

“This next stage in the company’s history promises to be the most exciting yet. David Richards and I have a great deal of mutual respect for each other and we are equally passionate about realising the brand’s full potential.”

Aston Martin will remain at its high tech production facility at Gaydon in Warwickshire, a purpose-built facility where a skilled workforce of 1800 employees have helped gather numerous awards from the automotive and design industries in the past five years. Aston Martin has also enjoyed considerable success on the track and the company’s sporting heritage continues to infuse every model.

Aston Martin is one of the world’s leading sports car manufacturers. Founded in 1914 by Lionel Martin and Robert Bamford the company has been responsible for some of the most evocative automobiles of all time. Aston Martin has evolved into a prestige manufacturer with class-leading products and perhaps the most high profile automotive brand name in the world.

The current model line-up of the award-winning V8 Vantage, DB9, DB9 Volante and Vanquish S and V8 Vantage Roadster will soon be enhanced by the eagerly awaited high performance DBS model. Voted the UK’s coolest brand in 2006, Aston Martin has a fast-expanding dealership network of 126 dealers representing in 27 countries.

FORD PRESS RELEASE: FORD ANNOUNCES AGREEMENT TO SELL ASTON MARTIN

DEARBORN, Mich., March, 12, 2007 – Ford Motor Company [NYSE: F] announced today it has entered into a definitive agreement to sell Aston Martin, its prestigious sports car business, to a consortium comprised of David Richards, John Sinders, Investment Dar and Adeem Investment Co. This transaction is the result of Ford's decision, as announced in August 2006, to explore strategic options for the Aston Martin business as the company restructures its core automotive operations and builds liquidity.

The sale is expected to close during the second quarter and is subject to customary closing conditions, including applicable regulatory approvals. The transaction values Aston Martin at £479 million ($925 million). As part of the transaction, Ford will retain a £40 million ($77 million) investment in Aston Martin. Other terms and conditions specific to the sale are not being disclosed at this time.

"The sale of Aston Martin supports the key objectives of the company, to restructure to operate profitably at lower volumes and changed model mix and to speed the development of new products," said Alan Mulally, Ford's President and chief executive officer. "From Aston Martin's point of view, the sale will provide access to additional capital, which will allow Aston Martin to continue the growth it has experienced under Ford's stewardship. Today's announcement is good for Ford Motor Company, good for Aston Martin and good for the UK. We wish Aston Martin every possible success for the future."

The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait.

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles in 200 markets across six continents. With more than 280,000 employees and more than 100 plants worldwide, the company’s core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company.

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Breaking News: Aston Martin sale to a Prodrive led consortium to be completed by tomorrow

And this time, it looks like it’s for real as according to a report from Daily Telegraph UK, the deal will be signed on Friday in Detroit. "It's a done deal. All that remains is to cross the t's and dot the i's," quoted an unnamed senior source to the newspaper. The buyer is a consortium of business interests from America and the Middle East, led by David Richards, head of the UK motor sport organisation Prodrive.

We remind you that Prodrive has been a long-term partner of the British sports car maker and it runs Aston Martin's racing team. As for the price, it is rumoured that the deal will close at around 500m BP (1bil USD or 750m EUR) meaning that Ford has cut its expectations to half of what it was asking for Aston Martin when it put the British company up for sale last year. Via: Daily Telegraph

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Aston Martin Vanquish S Ultimate Edition

While Aston Martins’ future under Ford’s PAG umbrella is a tad clouded, the British carmaker’s present beholds a new limited production version of the… astonishing Vanquish S. And when we’re talking limited in Aston’s dictionary, we mean it: a mere 40 examples of the Vanquish S Ultimate Edition will be handcrafted at the company’s Newport Pagnell production facility.

Apart from the sill plaques denoting the limited edition number, the Ultimate Edition will be painted in a unique ‘Ultimate Black’ exterior color with its cabin boasting semi-aniline leather, with coarse stitching, leather headlining and black chrome finish interior fittings. Not much I know, but what did you expect for 273.578 EUR /354.611 USD / 182.095 BP.

And oh yeah, existing Vanquish owners will now be able to order a transmission conversion from the car’s existing Auto Shift Manual (ASM) system, to a conventional stick-shift manual for about the price of a… Nissan 350Z in the US 25.800 USD - 19.900 EUR - 13.250 BP (+ VAT). -Continued: Click “Read More…” below to see the official press release.

PRESS RELEASE: Aston Martin has announced two exciting developments for both new and existing customers of the company’s flagship Vanquish S.

Just 40 examples of a new Vanquish S Ultimate Edition will be handcrafted at the company’s Newport Pagnell production facility in Buckinghamshire. The model represents a luxurious and unique limited edition befitting the Vanquish S’s status as the ultimate Aston Martin and also celebrates the skilled craftsmanship of the team working at Newport Pagnell.

The Ultimate Edition will be available by special request to customers wishing to celebrate the last of a significant car in Aston Martin’s history. Initial feedback suggests the whole allocation of this special edition will be sold within weeks of launch.

The Ultimate Edition centres on changes to the Vanquish S’s renowned colour and trim. On the exterior, these changes include a unique ‘Ultimate Black’ – a striking new colour which will only be available with this car. Inside, the Vanquish S cabin is trimmed in a semi-aniline leather, with coarse stitching, leather headlining and black chrome finish interior fittings. Each car will also be fitted with personalised sill plaques denoting the limited edition number.

The Vanquish S Ultimate Edition retains all performance capabilities of the standard Vanquish S – and accordingly its position as the fastest ever production Aston Martin, capable of a top speed in excess of 200mph (321km/h). No additional charge will be made for the Ultimate Edition, available only with the 2+2 seating arrangement, priced at £182,095.

For existing Vanquish customers, Aston Martin’s world renowned Works Service department are to offer a new transmission conversion for owners of the company’s flagship model, adding to their reputation for an unparalleled level of personalisation.

Serving as a further example of the depth of bespoke services available via Works Service, existing Vanquish owners will now be able to order a transmission conversion from the car’s existing Auto Shift Manual (ASM) system, to a conventional stick-shift manual.

Working in conjunction with the company’s Special Vehicles Operations team from Gaydon, Works Service has developed the system over the last 12 months, before previewing the conversion to selected Vanquish customers.

Kingsley Riding-Felce, Director, Customer Care and Works Service, said: “This project underlines our commitment to adapting to customer requests, whether they are for Aston Martins from the past or modern cars such as the Vanquish S.”

Since its launch in 2001, the Vanquish has been equipped with fingertip controlled, Formula 1-style paddles which enables almost imperceptible gear changes in under 250 milliseconds. Advanced electronics also permit the close ratio six speed manual transmission to be programmed to operate automatically.

Drivers with a preference for a conventional stick-shift transmission will now have the option of this new Works Service-only modification which is available to order immediately, with prices commencing from £13,250 (+ VAT).

Established as a modern classic, the Vanquish’s muscular 2+2 epitomises Aston Martin's core values of power, beauty and soul. It is the ultimate sports car for the discerning owner. Since its launch, the Vanquish has proved to be a huge success for Aston Martin with over 2000 cars delivered to customers around the world. In 2002 the Vanquish graced the screens of millions, starring alongside 007 in the James Bond film ‘Die Another Day.’

Located at Newport Pagnell in Buckinghamshire, Aston Martin Works Service offers a factory-backed workshop with the experience necessary to care for any Aston Martin or Lagonda with unparalleled skill and attention to detail. With more than 40 years experience, the Works Service team offers accident repair, servicing, maintenance and even full restoration capabilities to Aston Martin and Lagonda owners. In 2006 more than 2000 customers called upon Works Service expertise, a number which is expected to be surpassed again in 2007.

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Rumor has it that… Louis Vuitton has bought Aston Martin from Ford

Well, not actually “rumours” but a report from the weekly German motor magazine Autobild, (without citing its sources though) that Louis Vuitton –yes, the French company that makes the renowned handbags, has acquired Aston Martin from Ford. Additionally, the report states that Ford has kept a 15% stake in Aston Martin, with Louis Vuitton acquiring the majority share. However, since nothing is official yet we’d better wait for a statement (either from Ford or Louis Vuitton) before we start commenting.

Technorati: Louis+vuitton, Aston+Martin, auto+news, car+news, automobile, cars, automotive, vehicles, autos, Carscoop, blogs, images, pictures, 2007