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Aston Martin owners rev up for possible sale or stock IPO

LONDON — Aston Martin's owners have hired financial advisory firm Lazard to prepare for a stock market listing or sale of the British sports car maker made famous by fictional spy James Bond, sources familiar with the matter told Reuters. Italian private equity fund Investindustrial and a group of Kuwaiti investors, who together own more than 90 percent of the marque, are hoping to cash in on a recovery in sales and are in the initial stages of a strategic review. They have hired investment bank Lazard to work on a preliminary plan and could either opt for an initial public offering (IPO) in the third or fourth quarter of 2018 or a trade sale, two of the sources said on Friday. A deal could value the maker of the sports car driven by Britain's Prince William on his wedding day at between 2 billion and 3 billion pounds ($4 billion), one of the sources said, adding a listing was the most likely option. However, no final decision had been taken and the investors could decide to retain control, the sources added. Investindustrial declined to comment while Aston Martin and Lazard did not return requests for comment. Adeem Investment, one of the Kuwaiti investors, was not immediately available. If successful, a float of Aston Martin would be a milestone deal for the 104-year-old car manufacturer and would follow the IPO of Italian sportscar maker Ferrari which made its Wall Street debut in 2015 amid strong investor demand. Investindustrial, led by founder Andrea Bonomi, bought 37.5 percent of Aston Martin in 2012 in what was the fund's best-known investment in Britain. The fund, which has clinched a number of Southern European investments since its launch in 1990, is Aston Martin's single biggest investor and is driving the plans, the sources said. Beside Lazard, other investment banks have approached the private equity fund in recent weeks offering advice ahead of a possible IPO, another source said. Yet no other mandates will be awarded this year for the Gaydon-based firm, which is in the midst of a turnaround plan that aims to restore the business to profitability following six years of losses. Aston Martin, which recently unveiled its new Vantage model, is on course to post its first annual pre-tax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance.

Aston Martin names new CFO

Aston Martin is on the verge of a resurgence, instituting (among a great many other things) new top leadership, and that includes a new chief financial officer. Mark Wilson comes to Gaydon with a wealth of experience at British sports car manufacturers, having previously worked for Lotus and McLaren. His most recent posting, however, was as CFO and COO at renewable energy insurer G-Cube Underwriting. He'll take up his new job as Chief Financial Officer (and his place on the executive board) at Aston Martin on June 8, reporting directly to Andy Palmer, who in turn took up his job as CEO just this past September. Considering Aston was recently injected with an influx of cash, hiring a new money man was probably prudent. But hiring new top personnel, of course, isn't the only change Aston is making. It's got a new platform in the works, a new engine under development with Mercedes-AMG and a raft of new projects in the pipeline. That includes the replacement of every one of its models by the end of the decade and the addition of as many as three new model lines – particularly the DBX crossover that could be the first new Aston built in America. ASTON MARTIN NAMES MARK WILSON AS NEW CHIEF FINANCIAL OFFICER 14 May 2015, Gaydon: Aston Martin today announces the appointment of Mark Wilson as Chief Financial Officer. Joining the business on Monday 8 June, Wilson, will report directly to Aston Martin CEO Dr Andy Palmer and take a place on the Executive Board at the company's global HQ in Gaydon, Warwickshire. With a strong track record of senior automotive experience already accrued with McLaren Automotive and Lotus Cars Ltd, Wilson joins the luxury British sports car maker from renewable energy insurer G-Cube Underwriting where he held the post of Chief Financial and Operating Officer. Welcoming Wilson to the team, Dr Palmer said: "Mark joins us at what is, undeniably, an extremely exciting time for Aston Martin. We are currently implementing the largest investment plan in our history which will see a total remake of our product portfolio. By the end of the decade, not only will our current line-up have been replaced entirely, we will have added up to three extra model lines and entered new market segments.

Aston Martin Lagonda Vision Concept re-envisioned as zero-emissions luxury brand

After introducing the hand-built, limited-edition, one-million-dollar Lagonda Taraf saloon in 2015, Aston Martin is again reaching to its Lagonda heritage dating back to 1904. But while there's a new saloon concept to be presented, Lagonda has completely changed around it. The Taraf had a six-liter, 540-horsepower V12 under its hood: the new car has no engine and no hood. Instead, Aston Martin is turning Lagonda into what it calls the first zero emission luxury brand. The herald of the newly born Lagonda is the Vision Concept, and it showcases the design language Aston Martin is preparing for a 2023 launch. While Astons still embrace the internal combustion engine, the letter "O" in Lagonda's logo is re-purposed to stand for zero emissions. As per Aston's statement: "With no need to package a vast internal combustion engine, gearbox and transmission, Lagonda's designers could optimize the interior down to the smallest detail and then build up the exterior of the car around it. The Lagonda Vision Concept doesn't have a bonnet because one is not required." The production Lagonda is to be fully autonomous "on all routine circumstances and all recognizable roads." This means the steering wheel can freely move from the left side of the car to the right, or retract completely. Choosing to not do the driving isn't alien to Lagonda customers, as Aston Martin's Andy Palmer explains. "For owners of true luxury cars, autonomy has existed for over a century, in a carbon-based form called a chauffeur." He adds, "We imagine most Lagonda customers will choose to be driven, but whether by a person or a computer will be up to them. And if they want to drive themselves, the car will ensure that is a delightful and memorable experience too. Lagonda will provide that choice." The tall, airy cabin has been designed with the help of Savile Row tailors, and the armchair-like seats can be arranged to face each other. The seats aren't mounted on runners, but cantilevered arms. As for range, Lagondas will have been engineered for a real-world 400-mile range with solid-state batteries. There's "intelligent all-wheel-drive," with any wheel able to be given 100 percent of the available torque.