Just last year, Ford sold British sports car maker Aston Martin to a consortium of investors led by Kuwait’s Investment Dar. But the storied brand could change hands again. Investment Dar is said to be considering selling a stake in the company — or perhaps the whole thing — as part of its debt restructuring.
Although Aston is seeing tough times — the company laid off a third of its staff in December — the reason for the potential sale has more to do with the investors’ financial situation than anything else, according to the U.K.’s Financial Times.
Investment Dar was founded in 1994 by a group of prominent Kuwaiti investors. Today, it has a debt of $3.4 billion, which is currently in the process of being restructured. This could include equity swaps and other asset sales.
The firm paid over $848 million for Aston Martin , and it’s conceivable it might wish to minimize further risk by shedding the car company. That said, no firm numbers have surfaced as a part of these rumors.
