Tue, 27 Nov 2012 02:45:00 GMT | By Reuters

Mahindra hopes for quick Aston Martin deal

Mumbai: Aston Martin, purveyors of fast cars to a fictional British spy and to real-life billionaires, could be partly owned by Mahindra and Mahindra (MAHM.NS) by the end of the week if the Mumbai tractor moguls have their way.

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Mahindra hopes for quick Aston Martin deal (© Reuters)

But much is unclear as the British maker of James Bond's sports cars, its Kuwaiti owner and a rival Italian bidder keep their own counsel. "There are a lot of moving parts here," a person with direct knowledge of the matter told Reuters on Monday, adding the Mahindras hoped to strike a deal this week.

The source told Reuters that an initial 40-percent stake could rise to 50 percent for a total price unlikely to top $400 million. Kuwait's Investment Dar, which led a private acquisition of the luxury brand from Ford in 2007, denied on Sunday that it was reviewing two bids for 50 percent after sources said Mahindra had outbid Italian investor InvestIndustrial.

The person familiar with the deal said on Monday, however, that bidders were wrangling over issues on management control.

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