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Ford Sells Major Stake in Aston Martin for $848 Million, To Help Turnaround Plan
March 14, 2007
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From Financial Wire

Ford Motor Co. has sold its controlling stake in Aston Martin, creator of exotic $100,000-plus sports cars made famous in James Bond movies, to a consortium of investors, including racing mogul David Richards, car collector John Sinders and the Kuwaiti companies Investment Dar and Adeem Investment Co.

Ford will receive $848 million and retain a $77 million stake in the company. The companies placed the total value of the deal at $925 million. Richards is founder and chairman of Prodrive, a British racing and automotive technology company that runs Aston Martin's international sports car racing team. Aston Martin Chief Executive Ulrich Bez will continue to lead the company's management team. Ford will continue to provide safety, emissions and other technology to Aston Martin.

Actor Daniel Craig drove the Aston Martin DBS in "Casino Royale" and the first 007, Sean Connery, drove an Aston Martin DB5 in the 1964 Bond movie "Goldfinger."