Mahindra Out, Volvo and Geely In for Aston Martin Purchase
It appears that Indian truck manufacturer Mahindra & Mahindra has pulled out of the race to buy Aston Martin due to the British automaker’s current financial situation.
But the bidding war is still ongoing, as reports now have Geely and Toyota looking closely into the Aston Martin brand as an acquisition. Geely, which recently bought Volvo, is extremely interested in a buyout of the British luxury automaker.
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In addition, reports have Toyota meeting multiple times with Aston Martin recently and it is believed that the bidding will come down to those two major automakers. Investment Dar, a Kuwait-based company, is attempting to reorganize its debt and as a result is seeking to sell its 64-percent share of Aston Martin for $800 million.
Previously, Investindustrial had made a bid of around $401 million but it was believed that Mahindra came in with a higher bid. But now the Indian automaker doesn’t seem interested anymore, which leaves Geely and Toyota.
[Source: The Economic Times and China Car Times]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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