Aston Martin Seeks $6.8 Billion Valuation Before Going Public

Anyone interested in buying a piece?

Ever since Ferrari filed for an initial public offering back in 2015, other premium sports car companies have considered doing something similar. Aston Martin is one of them, as we learned not long ago. Today, Bloomberg has provided on update on that. Reportedly, Aston Martin is seeking a valuation for as much as $6.8 billion for its own IPO. The company has been having “preliminary talks” with advisers regarding the valuation including debt. But why aim for this IPO now and not earlier?

Because investors are more interested in Aston Martin now thanks to new models, specifically the DB11 and Vantage, and upcoming new product like the DBX SUV. But perhaps what’s most important is that Aston Martin is now also profitable thanks to strong 2017 sales. The company broke the 5,000-unit mark for the first time in almost a decade. Despite the talk, Aston Martin supposedly has yet to make a final decision regarding the IPO. It’s not a done deal just yet. Not surprisingly, no-one at Aston Martin is even willing to discuss the matter. “As a matter of policy, Aston Martin does not comment about speculation concerning future ownership or capital restructuring,” said company spokesman Simon Sproule.

Ever since Bloomberg broke the IPO news, Aston Martin 2022 bonds have risen as much as 0.2% in London, clearly a good sign. A final decision will probably be made ahead of the UK’s break with the European Union in March 2019, the same year when the production-spec DBX SUV crossover is due to arrive.

Mahindra seeks to block FCA from proceeding with Jeep patent complaint

FCA says the Roxor, shown, has Jeep characteristics such as a boxy body with flat vertical sides.

India's Mahindra and Mahindra is seeking an injunction against Fiat Chrysler Automobiles to stop FCA from proceeding with a patent violation complaint aimed at stopping Mahindra from exporting a Jeep-like vehicle to the U.S.

Fiat Chrysler filed a trade complaint with the U.S. International Trade Commission on Aug. 1 seeking to prevent Mahindra from importing the Roxor in to the U.S., an off-road vehicle that looks like the Jeep.

According to the complaint, certain design features of the Roxor infringed the intellectual property rights of FCA's Jeep design.

The complaint was "without merit," Mahindra said in a statement on Wednesday.

The company and its Mahindra Automotive North America unit have filed a public interest statement with the trade commission and have begun proceedings in a Michigan court to enforce a design agreement that it executed with Fiat in 2009.

"We are asking the court to block Fiat from participating in the ITC [International Trade Commission] claim -- an injunction -- because of the fact that they agreed in 2009 to never bring such claims if we use a grille that they approved. The Roxor uses that grille," Mahindra said.

"We are also arguing that Fiat is using the ITC case to harm our Roxor business by creating negative publicity, damaging our reputation and our stature in the marketplace," it said in the statement.

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FCA has not claimed damages against Mahindra but has sought to permanently stop Mahindra from importing any components into the U.S. that infringe upon its intellectual property rights, Mahindra said.

FCA has said that Roxor imports threaten it with substantial injury because the SUVs are underselling Jeeps. Mahindra capitalizes on the cost advantages of manufacturing their products in India and then importing knocked-down kits to the U.S., where they are assembled in the Detroit area.

Mahinda said it rejects the notion that the Roxor is an imported low quality "knock-off" kit car. It said the SUV does not compete with FCA vehicles. The Roxor is manufactured and assembled in Auburn Hills in the first automaker plant to be built in Michigan in the last 25 years, the company said.

Mumbai-based Mahindra, which claims to be India’s largest SUV manufacturer, opened a North American headquarters in Auburn Hills last year.

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