MARCH 27, 2007
Richards's backer to buy more British businesses?
More details of the Aston Martin sale have emerged in recent days with the price paid being $570m, plus $390m in debt. This means that the business is now free of debts. The biggest shareholder is Investment Dar which owns 50% of the business. Ford owns 15% of the business while David Richards and Texan banker John Sinders control 9% between them. The rest of the business is split between various undisclosed US, British and Kuwaiti investors.
The company aims to keep increase production from the current level of 7000 cars a year.
Investment Dar says that it is likely to expand its British investments in the near future. Among the investments rumoured is the purchase of the department store Harrods from Mohammed Al Fayed.
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