MARCH 12, 2007
Aston Martin confirms
David Richards is the new owner of Aston Martin, along with US investor John Sinders, and Kuwaiti firms Investment Dar and Adeem Investment. The company will continue to be run by Dr Ulrich Bez but Richards will be the non-executive chairman. The investment is a personal one rather than involving Prodrive.
"This is an incredible opportunity," Richards said. "Aston Martin is one of the world's most iconic brands and we are confident we now have all the right ingredients to take Aston Martin to even greater heights."
Sinders is a banker specialising in oil transportation and infrastructure with links in the United States and in the Middle East, while Investment Dar is the largest listed investment company in the Gulf. It owns and manages a group of companies including banking, finance, investment and asset management, real estate, insurance, banking, and logistics.
Adeem Investment is a Kuwaiti company and owns companies in the banking and finance, real estate and hotels, transport and logistics, food and telecoms industries. It has become the fastest growing investment, corporate finance and asset management company in Kuwait.
It is significant that the press release announcing the deal includes a reference to the company's success on the track and its sporting heritage. Aston Martin has a fast-expanding dealership network of 126 dealers in 27 countries. This means that there is plenty of potential to expand further.
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