© Reuters. THE OWNERS Of ASTON MARTIN HIRE LAZARD FOR A POSSIBLE IPO
LONDON (Reuters) – The owners of Aston Morning have engaged the bank Lazard to prepare an initial public offering (IPO) or sale of the manufacturer of cars of James Bond, reported on Friday sources close to the matter to Reuters.
The funds Investindustrial and a consortium of investors, kuwaitis, who together hold over 90% of Aston Martin, hope to monetize their assets and are in the early stages of a strategic review.
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.
Investindustrial and the consortium have committed the bank Lazard to work on a preliminary draft, and could opt for an IPO in the second half of 2018, or a sale, said two sources.
The transaction could value the british group, between 2 and 3 billion pounds (2.3 and 3.4 billion euros), added the sources, noting that an ipo was the most likely option.
The sources, however, clarified that no final decision had been arrested and that the investors may decide to retain control of the brand.
(Pamela Barbaglia and Ben Martin; Catherine Mallebay-Vacqueur for the French service)