Aston Martin plans to raise US$1.9bn by selling shares in a new Middle Eastern company |
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British sports car maker Aston Martin, which is controlled by The Investment DarThe Investment Dar
, plans to raise US$1.9bn by selling shares in a new Middle Eastern company, which might be later listed.
Chief Executive Ulrich Bez said the Aston Martin would own a majority stake in the new company, while the rest of the shares would be sold to investors in the Gulf in private placement worth KD500mn (US$1.9bn). The new company, which will help revamp Aston's operations in the fast-growing Gulf, could be listed after three years depending on market regulations, added Amr Abou El-Seoud, executive vice-president of Islamic investment firm Investment DarInvestment Dar.
© Arab Times 2008
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