Prodrive may relieve Ford of Aston

Ford Motor Co. is apparently in exclusive talks with Prodrive over a potential sale of Aston Martin. Prodrive has long been a favourite to snatch Aston Martin away from its ailing parent, given the company's already strong ties to the fabled marque.

According to an article in The Times, Ford selected Prodrive because it has offered to pay close to £450 million to secure Aston Martin, higher than any other shortlisted bidders. David Richards, Prodrive's founder and CEO, is understood to be working with investors from the US and Middle East to gather the financing necessary to secure the deal.

Doughty Hanson, a UK buyout firm, is claimed to have dropped its offer to between £350 and £400 million after discovering certain previously undisclosed items in Aston Martin’s books, The Times reports. It also said that UBS, the Swiss investment bank running the sale, was moving ahead with the Prodrive group over Doughty Hanson and Syrian property tycoon Simon Hilalbi, another shortlisted bidder.

At least 30 groups were said to have expressed an interest in Aston Martin when Ford put the Midlands-based carmaker up for sale for between $1 and $2 billion. Final offers for Aston Martin were received on 31 January and Ford was expected to pick a preferred bidder by the end of February.

A sale could be announced as soon as next week.