Thursday, February 1, 2007

Bidding Heats Up for Aston Martin

LONDON — The second round of bidding has begun as Ford Motor Co. looks to sell Aston Martin for a reported 450 million pounds (approximately $880 million), the Financial Times said on Wednesday. Unnamed sources say that "People have increased their bid prices."

Aston Martin v8Bidders were said to include Syrian-born property tycoon Simon Halabi and Doughty Hanson & Co., a British private equity group. Other bidders may include Canadian auto supplier Magna and a consortium including Australian media executive James Parker.

Earlier this month, Ford Chief Executive Alan Mulally said the company will make a call this year on the sale of Aston Martin.

© Source: article on insideline

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