The world’s two biggest luxury goods firms including the conglomerate behind brands like Moet and Louis Vuitton are locked in a battle to buy Aston Martin from cash-starved Ford.
Ford announced today that the British sports car manufacturer would be sold and CAR has learned that Swiss-based Richemont and the French holding company LVMH have emerged as most likely to take on Aston despite having no previous experience in the car industry.
Ford desperately needs to tap into the potential $700m-$1bn the sale of Aston could generate and hopes to finalise a deal by the end of the year. That deal would include the Aston name, the company’s facilities at Gaydon and Newport Pagnell, the full research and development department and the management including boss Ulrich Bez.
Contrary to rumour Ford hasn't spent a great deal on Aston since taking charge in 1993 and would actually make a reasonable return on its investment.
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