Business Services Industry
Aston sale puts Ford onto road back.
Australasian Business Intelligence, March, 2007
Mar 13, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The sale of luxury British sports car brand Aston Martin, best known as the favourite vehicle of fictional spy James Bond, will raise $US848m. Ford Motor Company is selling the 94-year-old brand to reduce debt after losing $A12.7bn in 2006. It will retain $US77m worth of preferred shares. The buyer is a consortium led by Aston Martin enthusiast and former racing champion David Richards. He will become the company's chairman, but other management will stay in place. Around 6,500 Aston Martins were built in 2006. Ford says it will not be selling other brands, such as Jaguar and Land Rover. Originally published in "The New York Times".
Publication Date: 14 March 2007
FORD MOTOR COMPANY...
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