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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 spotted testing striking Lagonda sedan

Aston Martin may be known more for its two-door GTs and cabrios, but it has made a handful of four-door sedans. They've historically worn the Lagonda name as either a nameplate or marque, and that's just what we seem to have here. Spied running along familiar test routes in the UK, this prototype is reportedly registered to Aston Martin and based on the current Rapide S, complete with the company's long-serving AM11 6.0-liter V12. Only whereas the Rapide packs everything in tight on a short wheelbase – albeit with more room in the back than the two-door DB9 or Vanquish – this prototype appears to be riding on a stretched wheelbase. Over that lengthened frame, Aston's Q customization department has apparently draped custom bodywork with lines that seem to blend elements of the last Aston Martin Lagonda sedan that wedged its way in between 1976 and 1990 on the one hand, and Zagato's pair of Centennial concepts presented last summer on the other. One thing it clearly is not, however, is the Lagonda crossover concept which Aston revealed to mixed reviews at the Geneva Motor Show back in 2009. The big question is where this sedan is heading (beyond its test route). We could be looking at a highly exclusive creation for a handful of wealthy clients, or at a production model to relaunch the Lagonda brand as has long been anticipated. We're hoping it's the latter, but we'll just have to wait to find out. Judging by how close it looks to completion, it shouldn't be too long.

Aston Martin begins building continuation DB5 with fake machine guns

We could have written this sentence in 1963: "Aston Martin has launched production of the DB5." Then, it would have referred to a shapely new coupe introduced to the popping of flash bulbs to replace the DB4. In 2020, it signals that the first batch of "Goldfinger"-spec continuation cars announced in 2018 by former CEO Andy Palmer are nearly ready to roar out of the Aston Martin Heritage Division's workshop in Newport Pagnell, England.  Workers build each DB5 from scratch, they're not starting with a donor car, and the process takes approximately 4,500 hours (or six full months). The firm explained it builds cars by hand using period-correct manufacturing techniques when possible, but it's not opposed to embracing modern engineering advancements when needed. Aston Martin enlisted the help of EON Productions, the company that makes James Bond films, to ensure the continuation cars are accurate replicas of the DB5 used in "Goldfinger." Most of the gadgets that wowed movie fans on the big screen are accounted for, including a rear smoke screen delivery system, a simulated oil slick delivery system, a set of revolving license plates to fool the bad guys, and twin machine guns hidden behind the headlights. Fear not; they're fake, so you don't need to invest in an armored Mercedes-Benz G-Class if you spot a new DB5 in your neighbor's driveway. Buyers can pay extra for a hatch above the passenger-side front seat. Inside, the add-ons include a telephone integrated into the driver's door, a radar screen tracker map (which is also fake), and a tray used to store weapons under the seats. Watch your elbow if you're lucky enough to ride in one: Some of the buttons used to activate the aforementioned gadgets are integrated into the armrest. The aluminum hood hides a 4.0-liter straight-six engine that slurps gasoline through three SU carburetors to deliver about 290 horsepower. It spins the rear wheels via a five-speed manual transmission and a mechanical limited-slip differential. Aston is also installing disc brakes all around and non-assisted rack-and-pinion steering, so the continuation cars will accelerate, handle, look and sound like a DB5 should. Aston Martin is only making 25 examples of the modern-day DB5, and it priced each one at GBP2.7 million (about $3.3 million at the current conversion rate). Deliveries are scheduled to begin in the second half of 2020, which is when the DB5 will return to the big screen in the next installment of the James Bond series.