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Aston Martin owners 'considering selling' luxury car maker.

ASTON MARTIN could be sold next year as its owners mull over its future.

The luxury car maker's major shareholders, Italian private equity firm Investindustrial and a group of Kuwaiti shareholders, are considering a stock market flotation or a trade sale, according to a report in the Sunday Times.

They have hired investment bankers Lazard to review the prospects for a flotation or a sale in late 2018, the report said.

The sale could value the car maker, which has reported pre-tax profits of PS22m in the first nine months of this year compared to losses of PS124m in the same period the year before, at between PS2bn and PS3bn.

Aston Martin is gearing up for production of its DBX crossover vehicle at St Athan, expected to get underway in 2019.

The car combines features of a sports car and an offroad vehicle and is aimed at the fastest growing segment of the car market.

Investindustrial owns a 37.5% stake in Aston Martin, which it bought in 2012 for $190m.

Aston's return to profitability has come under the stewardship of former Nissan executive Andy Palmer and is built around a series of new models including the DB11, which sold 3,330 in the first nine months bringing the company record sales of PS567m.

The company has also been diversifying into other luxury goods such as powerboats, watches and even luxury apartments. A stock market flotation as a luxury brand rather than a car maker is being mooted, according to the Sunday Times.

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Title Annotation:Business
Publication:Western Mail (Cardiff, Wales)
Date:Dec 18, 2017
Words:253
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