Ford Is Close to a Deal to Shed Aston Martin Sports Cars
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Ford is expected to sell Aston Martin to a group of investors that includes the racing mogul David Richards and a pair of Kuwaiti companies.
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Aston Martin chief Ulrich Bez declined to comment on reports that parent group Ford Motor Company had found a buyer for the British sports car maker but hinted it could be soon.
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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.
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Ford said it was working with financial advisers to sort out the future of the two British brands.
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Race car driver David Richards with some investors buys Aston Martin from Ford for $925 million. In Autopia.
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Aston Martin is one of three British companies that Ford may sell as part of its effort to finance a turnaround in North America.
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GM and Ford plan to quit the minivan market, but their strategic retreats make sense.
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DETROIT -- Cash-strapped Ford Motor Co. has sold a controlling stake in the Aston Martin brand, made famous by its exotic sports cars appearing in James Bond movies, raising $848 million to help fund its turnaround plan.
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Troubled US auto giant Ford Motor Co. has said it was looking to sell Aston Martin, the prestigious British sports carmaker immortalised by fictional superspy James Bond.
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Luxury car company Aston Martin is expected to be sold imminently, bringing it back into British ownership.
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A variety of companies, including private equity firms and possibly other automakers, have been preparing bids to buy two of Fordâs luxury brands.
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The British government is in contact  with Ford Motor Co  over the possible sale of the U.S.  carmaker&#39;s Jaguar and Land Rover brands.
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Ford Motor Co., the world&#39;s second- biggest carmaker, plans to cut production of Jaguar cars by 15,000 units this year to trim losses at its European luxury-vehicle unit.
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A bidding group fronted by former Benetton and BAR motor racing team boss David Richards said it will hold a news conference at 1300 GMT and sources familiar with the matter said it will announce it is buying a majority stake in luxury car maker Aston Martin from Ford .
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Ford sprang a surprise when it declared that Jaguar was moving out of Formula-1 and the team is up for sale or dismantling. That decision gave rise to the speculation that Ford might be considering moving out of World Rally Championship as well.
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Further job cuts, spending cuts and changes in FordÂs lineup of car and trucks are also expected.
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Ford Motor Co. said Tuesday it was reviewing its position on Jaguar and Land Rover, fueling speculation that the Dearborn-based company is getting closer to selling them.