Investment is considering offers to sell up to 20% of Aston Martin and wants to borrow up to 300m dinars (US$1bn) to refinance debt.
The Kuwaiti investment firm, which bought half of the luxury sportscar maker in 2007, is studying offers to sell a 10 to 20% stake on behalf of itself and some of its partners, executive vice-president Amr Abou El-Seoud told Reuters.
“We have offers … we are in talks but the (sale) should be value-added whether financially or technically,” Seoud told Reuters. “We are not considering selling and exiting.”
“It (could) be a maximum 10 to 20% of the company to be taken out of all investors, in other words, Dar’s dilution might be… 5 to 10%,” he said, adding: “There is a 60 to 70% chance that we will reach a deal soon.”
Reuters noted that Seoud declined to identify possible buyers or give a reason for the sale but said Dar could also sell Aston Martin shares to the public within three to five years.