© Reuters. A FUND ITALIAN MAD WANTING to RIDE to THE CAPITAL Of ASTON MARTIN
MILAN (Reuters) – Investindustrial does not discuss an increase of its stake in Aston Martin, and no decision has been made regarding a possible initial public offering (IPO) by the vehicle manufacturer, said Sunday a spokesman for the Italian private equity fund.
The daily Il Messaggero wrote on Sunday that the fund is in continuing negotiations at an advanced stage in order to wear by the end of the year his participation in the manufacturer of cars of James Bond from 37.5% to 50%, and adds that it intends to introduce at the stock Exchange next summer.
Il Messaggero said that to do this, Investindustrial must redeem shares to the other shareholders, namely a consortium of investors, kuwaitis, which currently has 54.5% of the shares, Daimler (DE:DAIGn) and the direction of Aston Martin.
A spokesman for Investindustrial, based in London, has denied this information. “In view of the recent good performance of Aston Martin, none of the shareholders wants to sell”, he said.
There is no discussion on the round table for the time being, said the spokesman, adding that the situation could change later, “to the extent that it is a fund of investment capital, it may be that he wants to finally monetize its assets”.
The british manufacturer of luxury cars, said last month that it expected to publish its first taxable income annually since 2010, thanks to strong demand that the DB11 has aroused.
A spokesman for Investindustrial has also said that no decision had been taken regarding an IPO of Aston Martin.
In an email sent to Reuters, Aston Martin said that he had “no comment to make on these conjectures”.
Andy Palmer, the executive director of the manufacturer, has repeatedly said that the decision to proceed with an IPO returned to shareholders and that it would be wise on their part to consider the possibility before that the recovery plan of the company comes to an end in 2022.
(Giulia Segreti, Wilfrid Exbrayat for the French service)