Majority Owner Seeks Buyer for Aston Martin Brand

Kuwait's Investment Dar Co. has approached potential buyers for the fund's 64% stake in Aston Martin Lagonda Ltd., Bloomberg News reports.

The news service cites unidentified sources who say Investment Dar has hired Rothschild Group to advise on the sale as part of the fund's ongoing effort to reorganize its debt.

The Kuwait firm denies it is trying to sell the 99-year-old British brand.

Companies contacted by Investment Dar include Toyota and India's Mahindra & Mahindra, according to Bloomberg. It says Toyota hired an auditor to conduct a one-week study of acquiring the British boutique brand.

Bloomberg says interest is limited because prospective bidders aren't willing to meet Investment Dar's asking price of $800 million (€627 million). That's roughly the amount the fund paid when it bought Aston Martin from Ford Motor Co. in 2007 as part of a consortium that included Kuwait's Adeem Investment and U.K. racing magnate David Richards.

Analysts opine that Aston Martin the only solo global luxury brand would benefit from an automotive parent to help develop new models.

The Gaydon, England-based carmaker generated 507 million (€635 million) last year on sales of about 4,200 cars. Its earnings before interest, taxes, depreciation and amortization fell 18% to 76 million (€95 million).