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MENAFN - AFP - 07/12/2012

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(MENAFN - AFP) Italian private equity fund Investindustrial has bought a 37.5 percent stake in legendary British carmaker Aston Martin, the companies said in a joint statement on Friday.

"Investindustrial is investing 150 million pounds (186 million euros, 240 million) in Aston Martin in the form of a capital increase for a 37.5-percent stake," the firms said.

There had been a bid from Indian jeep maker Mahindra & Mahindra for the stake.

Aston Martin said it would now proceed "with its extensive and exciting plans for sustainable long-term growth".

Andrea Bonomi, senior principal at Investindustrial, said: "We are delighted to form part of this iconic global, but quintessentially British brand."

Investindustrial used to own Italian motorcycle maker Ducati.


 






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