Billionaire European friends consider bid for Aston Martin

0 Comments | AFP, October, 2006

LONDON (AFP) — Two European billionaires, Bernard Arnault and Albert Frere, are considering using their joint resources to make a bid for the prestigious British sports carmaker Aston Martin, the Financial Times reported. Arnault, the chairman of luxury goods company LVMH and Belgian financier Frere announced on Thursday that they were setting up a joint investment structure with one billion euros (1.26 billion dollars) at its disposal.

The new investment group has not yet been named. An unnamed source close to the two, who are reportedly good friends and jointly own the Chateau Cheval Blanc winery in Bordeaux, told the FT: "They are looking at Aston Martin. It falls within the scope of their investment fund." Troubled US auto giant Ford Motor Co. said in August it was...