FRANKFURT, Germany mdash; Aston Martin CEO Ulrich Bez said he expects parent Ford Motor Company to sell its British sports-car subsidiary by year's end, but the U.S. automaker could retain a minority stake of around 10 percent.
In an interview with the German newspaper Frankfurter Allgemeine Zeitung, Bez indicated that he had secured financing for a proposed management buyout of Aston. The newspaper estimated the sale price at $1 billion, adding that Ford is soliciting other offers.
Former Ford CEO Jac Nasser also has been linked in media reports to the proposed sale of Aston, but it is not known whether Nasser is working with Bez on the management buyout or spearheading a competing offer.
Earlier, London's Financial Times reported that Bez had reached an informal agreement with Ford Chairman William Clay Ford, Jr., more than a year ago to seek new ownership for Aston. The Times projected a sale price of about $750 million.
What this means to you: Perhaps a change of owners will send Aston in a different strategic direction. But without Ford's once-deep pockets, what does the future hold for this checkered marque?
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