China’s Geely wants to buy Aston Martin

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Chinese media reports that Geely is in the market for Aston Martin. Geely reportedly wants to use the ‘Volvo mode’ for buying Aston, meaning they will try to convince local and provincial governments to join the bid, either directly or via a separate investment vehicle.

The current majority shareholder of Aston Martin, Investment Dar Inc from Kuwait, wants to sell its 64% stake for some 800 million USD. Geely paid 1.5 billion USD for Volvo in 2010, so raising 800 million for Aston Martin seems possible. Geely however is not the only bidder, Toyota and BMW are in the race as well. More as we get it. Via: Sohu.

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