Louis Vuitton buys Aston Martin... NOT!!
[UPDATE]: 07 FEB 2007 - Apparently, a spokesperson from LVMH has come out to clarify, in a not too subtle way, on the purchase of Aston Martin by the company. "Absolute rubbish," he said. "There is no truth in this story whatsoever..." Aston Martin boss, Ulrich Bez, meanwhile maintained that any new owner should have experience in the automotive industry. Apologies for getting the heart rate of LV-loving tai-tais up earlier. :o
FORD has been putting up Aston Martin for auction to interested buyers since last August. It had put the sports car builder up to raise the much needed capital.
The bidding finally ended last week, which saw French Luxury goods maker LVMH Moet Hennesay Louis Vuitton SA (or for those tai tais out there - Louis Vuitton) came up tops and secured ownership of Aston Martin.
The exact details of the sale are not out yet, but industry valuation put Aston Martin at US$1.2 billion. Under the condition of the sale, FORD will continue to own 15 percent of Aston Martin.
Credits: triggerpuff
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