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Kuwati companies move in on Aston Martin

Two Kuwait-based investment companies have joined former rally champion David Richards to bid for Aston Martin.

Adeem Investment KSC and Investment Dar Co. have united with Richard’s Prodrive in an offer to buy the car company from Ford, according to media reports today.

Persian Gulf investors are investing in vehicle-makers to diversify their sources of income. Dubai International Capital LLC owns a $1 billion stake in DaimlerChrysler AG and Abu Dhabi's Mubadala Development Co. owns 5% percent of Ferrari SpA.

A sale would end two decades of Ford ownership of Aston Martin.

Adeem and Investment Dar has reportedly agreed to buy a minority stake in Aston Martin.

Ford has announced it will make an “important” announcement concerning Aston Martin at the Aston Martin headquarters in Gaydon today.

Richards is a former world rally champion who managed the Benetton Formula One team in 1998 and led BAR-Honda for three years. He is also the founder of racing car parts maker Prodrive.

Source: Bloomberg

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