Prodrive for sale?

[turves]

I'm not sure whether this thread belongs in here, or F1, but there you go...

Rumours are that David Richards is leading a consortium to buy Aston Martin from Ford. BBC News website has also confirmed this but also say that his F1 team could then become Aston Martin branded.

The reason I have put this thread here, is because I was talking to a friend of mine who works for AM, and he reckons that DR could be selling Prodrive to fund the AM purchase. Just wondered what peoples thoughts were about that?

[Tomi]

it would be a good idea, but even better if he would sell the tv rights to someone else too.

[turves]

definately. I doubt he'll do that though.

[JAM]

DR has Prodrive place's on F1 to someone eles who bought it...let's say a "franchise" system. That's what i heard, but F1 in last years means nothing to me.

[Tomski]

Whatever he's up to, the odds are he'll come out of it better off than when he went in.

[MJW]

There is also talk that Ron Dennis is selling all of McLaren to Arab consortium and that Ron was goingto buy Prodrive! We may keep the F1 and WRC threads apart but rest assured the money men in motorsport do deals together. There is something happening............

[jonkka]

DR already sold a large stake in Prodrive to fund his deal to buy ISC several years ago. I don't recall whether it was majority of the company or not.

[MJW]

it was less than 50% and that was to APAX holdings, an investment bank. These things have a habit of being re-sold on.

[L5->R5/CR]

I'm not sure whether this thread belongs in here, or F1, but there you go...

Rumours are that David Richards is leading a consortium to buy Aston Martin from Ford. BBC News website has also confirmed this but also say that his F1 team could then become Aston Martin branded.

The reason I have put this thread here, is because I was talking to a friend of mine who works for AM, and he reckons that DR could be selling Prodrive to fund the AM purchase. Just wondered what peoples thoughts were about that?


He will probably make an informal offering to establish his equity based on the market to secure private finance (would be a smarter man to make an IPO after buying out APAX IMO).

Odds are is that he will leverage or hedge his holdings in Prodrive to get the rest of the equity he needs to buy AM then AM will be the branding of the F1 team and they can make the P2 road car.

I very much doubt he will sell or relinquish control of Prodrive for a brand like Aston...

[imull]

why would he sell prodrive to buy AM?

Prodrive houses (at its vadious global sites) all his staff, design, manufacturing/rapid prototyping/wind tunnel etc All stuff that will be needed in order to design and build the future generation of AM's

[FrankenSchwinn]

He will probably make an informal offering to establish his equity based on the market to secure private finance (would be a smarter man to make an IPO after buying out APAX IMO).

Odds are is that he will leverage or hedge his holdings in Prodrive to get the rest of the equity he needs to buy AM then AM will be the branding of the F1 team and they can make the P2 road car.

I very much doubt he will sell or relinquish control of Prodrive for a brand like Aston...

do you really think going the IPO route would be better? then again, all interested parties would be richfawks who probably believe in him and his work, not like the rest of us.

[bt52b]

Ron Dennis has sold his controlling interest in McLaren, so is free to buy another one. Think he still has 15% of Mclaren.

In many ways Prodrive is a McLaren clone.

But then again RD may only be interested in the F1 team.

[L5->R5/CR]

do you really think going the IPO route would be better? then again, all interested parties would be richfawks who probably believe in him and his work, not like the rest of us.



With an IPO he could generate significant capital, intrench himself in the board and operations of the company with less of the responsibility, as well as make a capital return on the purchase of AM to help further recooperate from the capital outlay necessary for the initial purchase.

[A.F.F.]

But then again RD may only be interested in the F1 team.


He sure can't seem to keep his hands off them :mark:

[jparker]

it would be a good idea, but even better if he would sell the tv rights to someone else too.
I like that :up:
I wonder, how did DR become owner of the tv rights?

[jonkka]

I like that :up:
I wonder, how did DR become owner of the tv rights?

He bought those when EU forced FIA to sell.

[Glee]

Norwegian newspaper VG has written that Aston Martin is up for sale.

http://www.vg.no/mobil/pda/avantgo/vis.hbs?artid=156689

Quote: “gruppe som kaller seg Prodrive” / “a group / consortium called Prodrive”

The journalist probably doesn’t know what Prodrive is.

[MJW]

Press conference scheduled for 1p.m UK time.

[MJW]

A consortium lead by David Richards' Prodrive Group with backing from Kuwaiti investors has bought Aston Martin from Ford.
Ford had to sell the luxury car brand as part of its cost cutting measures after suffering significant financial losses. Ford even had to mortgage its plant to raise money to survive.

[turves]

Sky news is saying he paid £475m...

[turves]

Ford had to sell the luxury car brand as part of its cost cutting measures after suffering significant financial losses.

Its ironic though that AM was the only part of Ford that was making money...

[inamo]

Ford Europe is also profitable...

[MJW]

From the news reports Prodrive were not involved in the purchase by any financial commitment. It was David Richards acting separately from Prodrive Group that headed teh purchase along with a Dubai based Texan businessman and two Kuwaiti investment banks.