MILAN Dec 7 Italian investment fund Investindustrial said on Friday it bought a 37.5 percent stake in Aston Martin for 190 million euros and that the British sportscar maker will invest 625 million euros to make new car models in the next five years.
The deal gives Aston Martin the capital it needs to compete with other venerable sports car brands like Maserati, Ferrari, and Porsche that have the advantage of research and development costs covered by large corporate parents.
Investindustrial has a positive track record with its purchase of Italian high-performance motorcycle maker Ducati, which it sold earlier this year to Audi at a gain.
Investindustrial will make the purchase through a capital increase that will allow the fund to become Aston Martin's main shareholder. The purchase is subject to antitrust approval, and gives Aston Martin an enterprise value, including debt, of about 940 million euros.
(Reporting by Jennifer Clark)