Home New Cars Used Cars Car Prices Service Centers Car Dealers Image Gallery Blog Insurance Finance Bikes USA Drives
Upcoming Cars Latest Cars Test Drive Latest News Car Comparison New Car Reviews Used Car Reviews Driving Tips Buyers Guide

M&M Bows Out of the Race to Buy Aston Martin







Automobile giant Mahindra Group seems to have drawn out of the competition for disturbed luxury sports vehicle brand Aston Martin. As per sources, Aston Martin’s long list of debts is possibly the major cause why Mahindra & Mahindra has calmed down towards the bid.

M&M’s team members, who were in UK till last week, came back to India and afterward went to Beijing for the auto giant’s twelve-monthly Blue Chip meeting.

Mr. Anand Mahindra, M&M chairman, has also been posting messages on Twitter regarding the Beijing meeting.

In the meantime, sources stated that the European PE fund Investindustrial’s top groups are still in UK as talks for Aston Martin are going on.

M&M Bows Out of the Race to Buy Aston Martin

Sources also stated that aside from Aston Martin’s personal financial problems, the Mahindra group was also shocked by the reality that TID (The Investment Dar), the Kuwait-based proprietor who possesses half of Aston Martin Lagonda, is itself going through troubled waters.

In the year 2011, Last year, The Investment Dar declared that it would inaugurate a proposal to reorganize 1.37 billion dinars ($5 billion) of arrears on June 30, 2011.

The company also declared that Kuwait’s Special Circuit Court of Appeal had given nod to its demand to apply to the nation’s Financial Stability Law.

The restructuring process would take around eight and half years.

Sources said even though the Aston Martin brand is still a sturdy one, Mahindra Group was not eager to make entry as a portfolio investor.

The Mumbai-based auto firm has always insisted on management control and has picked up another upset worldwide asset it bought in the year 2010 – Korean automobile firm Ssangyong.

Used Mahindra Car For Sale :
New Mahindra Car For Sale
Exclusive Car Deals From Indian Drives
 
     
  Get Quick Loan  
     
 
     
  Mahindra Used Cars  
     
 
     
  Get Insurance Quote  
     
 
     
  Mahindra Car Service Centers  
     
 
     
  Book a Test Drive  
     
 
     
  Get on Road Price  
     
 
     
  Get Discount  
     
 
     
  Mahindra New Car Dealers  
     
 
     
  Ask Question  
     
           
           

Similar Articles

  • No Related Post

Give your Review on this Car

Your email address will not be published. Required fields are marked *

*
*

CommentLuv badge
Follow Us