London Mayor keen on Mahindra & Mahindra acquiring stake in Aston Martin
As the countdown begins on naming the new minority partner for the iconic brand Aston Martin, the London Mayor Boris Johnson has rolled out the red carpet for Mahindra & Mahindra to invest in the marquee brand.
Terming Mahindra & Mahindra as a great company, Johnson told ET, "I have heard about (M&M's interest in Aston Martin) if it happens, it is another sign of incredible co-operation and fusion between British and Indian business. Mahindra and Mahindra is a great company and I will look forward to it with great interest."
Johnson was in Mumbai, the financial capital of country to interact with Indian Industrialist in a function hosted by CII on Friday.
Earlier in the week, the Aston Martin's Union welcomed M&M to be the minority partner in the company. The deal which was likely to be signed last week, still remains fluid with Mahindra & Mahindra and Italian investment firm Invest Industrial vying for a 40% stake in Aston Martin, with Indian major learnt to be a front runner
After remaining silent for the most part of November, the spokesperson of Aston Martin too confirmed the interest to sell minority to meet the company's mid and long term investment plans.
The mayor of London also came out in a strong support of steelmaker L N Mittal's Arcelor Mittal, which is facing intense pressure from the French government over closure of two blast furnaces in north-eastern France.
Johnson said the steel incarnation of the cultural ties between India and UK lies right in the middle of the Olympic Park. The orbit is funded by an Indian and designed by a Mumbai-born artist
"I do think it is preposterous that the government of France should not be signalling that Arcelor Mittal, who sponsored that orbit, should now be not welcome in France," added Johnson.
There is no need to worry, Mittal can come and invest his money in London, assured the mayor of London. London Mayor keen on Mahindra & Mahindra acquiring stake in Aston Martin - The Economic Times