One of the India's leading automobile manufacturer and service provider Mahindra and Mahindra is been on the news now-a-days. As per the reports on Monday, Mahindra and Mahindra is giving a tough competition against the Italian buyout firm Investindustrial for a stake in British luxury sports car maker Aston Martin.
Aston Martin, one of the world's biggest luxury car manufacturer, it's luxury cars became popular since it's used by one of the most popular Hero from the hollywood in it's movies,"James Bond" and is owned by Kuwait-based finance firm Investment Dar, which bought it from Ford Motors for $767 million in 2007. But market experts claims that the global economic slowdown has affected its sales.
And per the Sources, it is speculated that Mahindra is likely to pick up a 40% stake initially at a cost of $190-320 million, but could raise its stake to 50% over the next four years. British Car Automaker Auston Martin stated, that the Indian automaker Mahindra and Mahindra has been very aggressive when it comes to bidding for Aston Martin, with a INR 2,210 crore bid, and has managed to outbid InvestIndustrial with an INR 2,210 crore offer for Aston Martin, which is said to be significantly higher than the offer that InvestIndustrial has made for Aston Martin.
A couple of years ago, Mahindra also acquired electric car maker Reva and an Indian two wheeler maker, Kinetic Engineering. However, if Mahindra manages to take a stave in Aston Martin, it will be the third iconic British brand to be controlled by Indian automakers. Many of it's competetor's like , Tata Motors, acquired the Jaguar and Land Rover brands in 2008. Ever since, Tata Motors has successfully steered JLR, which was a loss making entity, to profit. Tata Motors has also heavily invested in Jaguar-Land Rover for new product development.
Let's see what happens for more information keep updated with us.
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