Italians bail out Aston Martin | Bangkok Post: auto

LONDON: Aston Martin, the quintessentially British soprts car brand forever linked with James Bond, has received a much-needed financial boost of 150 million pounds from an Italian buyout group Investindustrial.

The deal, announced by Aston Martin, gives Investindustrial a share of 37.5% in the independent carmaker, in which Kuwait's Investment Dar is a major shareholder. It values the firm, founded in 1913, at around 750 million pounds, analysts said.

Aston Martin, which has faced competition from rival brands such as Porsche and Ferrari, said it would use the funds to invest more than 500 million pounds in new products and technologies over the next five years.