Cash boost for luxury car firm

Luxury carmaker Aston Martin is reportedly set for a £150m investment from Italian private equity firm Investindustrial in exchange for a 37.5% stake in the business.

The money will be put towards the more than £500m it plans to spend on new models and technologies over the next five years.

Kuwait's Investment Dar retains its major shareholding in the carmaker. "I am delighted that Investindustrial has decided to become a major investor in Aston Martin," said David Richards, chairman of the Warwickshire firm.

"With this partnership and the continued commitment of Investment Dar, we look forward to working with our shareholders as we realise our vision and exciting future plans."