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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 plans to keep the internal combustion engine alive beyond 2030

As it stands, Aston Martin will be banned from selling gasoline-burning cars in its home country in 2030. California lawmakers want to push internal combustion technology off the scene by 2035, but Aston Martin's chief executive doesn't think that pistons, valves, and fuel injectors will completely disappear even as bans come into effect. "By 2030, 5% of business will still always be ICE. I never see it going down to zero," predicted Lawrence Stroll, Aston Martin's chairman, during the Financial Times Future of the Car summit. He added that there is "always going to be enthusiasts" who will request a powerful gasoline-fueled engine, and who will be able to pay for it. If it's not delayed, loosened, or reversed, the United Kingdom's blanket ban on internal combustion engines will mean that any new gasoline-powered Aston Martin sold within the nation's borders will not be street-legal starting in 2030. Owners will presumably be allowed to drive them on private property, like race tracks, and companies like Porsche are ramping up their efforts to present synthetic fuels as a viable alternative to premium unleaded. Across the pond, no such ban has been announced by our federal government -- at least not yet. 2021 Aston Martin DBX View 40 Photos Aston Martin plans to keep investing in gasoline-powered engines in the coming years; if the technology is getting regulated into extinction, it's going out with a bang. Stroll announced that some of the company's future models will continue using engines built by Mercedes-AMG, but they'll be tuned in-house. "Our current AMG engines are just that: AMG engines in an Aston. With this new deal, we will have bespoke AMG engines for Aston with different outputs, torque characteristics, etc. They'll still be AMG components, but they'll be bespoke-manufactured in Germany," he announced. As it stands, the only engine the carmaker gets from its German investor and partner is a twin-turbocharged, 4.0-liter V8, which powers a wide range of models. Its portfolio also includes a V12 it designed in-house, and a new 3.0-liter V6 is under development. Engines aren't the only bits with a "made in Germany" tag that future Aston Martin models will receive, however. Stroll confirmed that AMG's upcoming plug-in hybrid technology will permeate the British firm's range, and he revealed that the first electric Aston Martin will use drivetrain components (like motors and batteries) from AMG.

Aston Martin reveals the open-air Vantage Roadster

Aston Martin has tweeted the first official image of its Vantage Roadster in prototype form, following a promise made earlier this year to unveil a convertible version by year's end of the all-new coupe that was unveiled almost two years ago. As is clearly illustrated on the door, you’ll be able to buy the droptop next spring. ThatÂ’s about the extent of information on offer from the company, but, well, look at the thing! ItÂ’s presented in matte black paint, which suits it well and shows off the side gills, sculpted sidelines and the ducktail rear spoiler with the arching, full-length LED taillight. It may also be instructive to look at the DB11 Volante, the convertible version of AstonÂ’s higher-slotting sports car, for clues. It required tweaks to stiffen the chassis and redistribute the added weight as a result of chopping off the top. That droptop is also more expensive than the DB11 coupe, something we can also expect from the Vantage Roadster (the Vantage coupe starts at $149,995 and weighs in at 3,373 pounds). The Vantage features an AMG-sourced 4.0-liter twin-turbo V8 that makes 503 horsepower and 505 pound-feet of torque and sends that to the rear wheels via a rear-mounted ZF eight-speed automatic transmission. In the coupe version, that setup helps produce a 0-to-60 mph time of 3.5 seconds and top out at 195 mph, though of course weÂ’ll have to wait for more from Aston closer to the soft topÂ’s launch. But before that, of course, weÂ’re likely to see the DBX sport-utility vehicle, which is set for a December reveal.