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Adviser says Ford to sell Aston Martin to investor group

DETROIT
Mon Mar 12, 2007 9:07am EDT
The 2008 Aston Martin V8 Vantage Roadster is shown at the Los Angeles Auto Show, November 29, 2006. A bidding group fronted by former Benetton and BAR motor racing team boss David Richards is to buy control of luxury car maker Aston Martin from Ford Motor Co., sources familiar with the situation said on Monday. REUTERS/Max Morse

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DETROIT (Reuters) - Ford Motor Co. (F.N) has reached a deal to sell its British race car unit Aston Martin to an investor consortium led by racing team boss and chief executive of Prodrive Ltd David Richards, an adviser on the deal, said on Monday.

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Prodrive Ltd is a global motorsport and automotive engineering group based in Banbury, England.

The transaction is expected to close by the end of April 2007, and is subject to customary closing conditions, including applicable regulatory approvals, Casesa Shapiro Group LLC, the adviser on the deal, said in a statement.
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