Pedro_The_Swift
9th August 2007, 02:51 PM
Ford says final price for Aston Martin was actually $931 million
Posted Aug 8th 2007 4:31PM by Frank Filipponio (http://www.autoblog.com/bloggers/frank-filipponio)
Filed under: Aston Martin (http://www.autoblog.com/category/aston-martin/), Ford (http://www.autoblog.com/category/ford/), Earnings/Financials (http://www.autoblog.com/category/earnings-financials/)
http://www.blogsmithmedia.com/www.autoblog.com/media/2007/08/am_logo.jpg (http://www.autonews.com/apps/pbcs.dll/article?AID=/20070808/REG/70808013/1116/rss01&rssfeed=rss01)
Automotive News just reported that Ford received a total of $931 million for Aston Martin when it sold the British premium GT maker earlier this year. We had previously put the purchase price at $870 million (http://www.autoblog.com/2007/03/09/aston-martin-about-to-sell-for-just-870-million/) after reducing it from the initial rumor of $965 million (http://www.autoblog.com/2007/03/08/aston-martin-sale-almost-a-done-deal-prodrive-founder-in-the-le/). Confused yet? Good, so are we. Basically all we need to know at this point is that Ford received $931 million for Aston Martin, in the form of cash and preferred stock in Primrose Cove Ltd. Primrose Cove is the name of the holding company that purchased Aston for its group of investors. Among those investors are Kuwait investment firms Investment Dar and Adeem Investment Co., as well as Prodrive's David Richards, and banker and Aston racer, John Sinders. The sale price amounted to a pretax gain of $187 million for Ford, and pretty much matched their March 12 statement that the company would be getting $848 million plus keep a $77 million stake in the company. Can you tell it's a slow news day?
[Source: Automotive News, sub. req.]
Posted Aug 8th 2007 4:31PM by Frank Filipponio (http://www.autoblog.com/bloggers/frank-filipponio)
Filed under: Aston Martin (http://www.autoblog.com/category/aston-martin/), Ford (http://www.autoblog.com/category/ford/), Earnings/Financials (http://www.autoblog.com/category/earnings-financials/)
http://www.blogsmithmedia.com/www.autoblog.com/media/2007/08/am_logo.jpg (http://www.autonews.com/apps/pbcs.dll/article?AID=/20070808/REG/70808013/1116/rss01&rssfeed=rss01)
Automotive News just reported that Ford received a total of $931 million for Aston Martin when it sold the British premium GT maker earlier this year. We had previously put the purchase price at $870 million (http://www.autoblog.com/2007/03/09/aston-martin-about-to-sell-for-just-870-million/) after reducing it from the initial rumor of $965 million (http://www.autoblog.com/2007/03/08/aston-martin-sale-almost-a-done-deal-prodrive-founder-in-the-le/). Confused yet? Good, so are we. Basically all we need to know at this point is that Ford received $931 million for Aston Martin, in the form of cash and preferred stock in Primrose Cove Ltd. Primrose Cove is the name of the holding company that purchased Aston for its group of investors. Among those investors are Kuwait investment firms Investment Dar and Adeem Investment Co., as well as Prodrive's David Richards, and banker and Aston racer, John Sinders. The sale price amounted to a pretax gain of $187 million for Ford, and pretty much matched their March 12 statement that the company would be getting $848 million plus keep a $77 million stake in the company. Can you tell it's a slow news day?
[Source: Automotive News, sub. req.]