Italian fund pips M&M for Aston Martin stake

An Italian private equity fund has bought a 37.5-per cent stake in British carmaker Aston Martin .

Investindustrial will invest 150 million pounds in Aston Martin in the form of a capital increase for a 37.5 per cent stake in the company.

Aston Martin Chairman David Richards said: "I am delighted that Investindustrial has decided to become a major investor in Aston Martin."

Aston Martin intends to invest more than half a billion pounds in its new product and technology programme over the next five years.

Mahindra group had bid the stake in Aston Martin, whose flashy vehicles feature regularly in James Bond movies.