We all know and even felt the worldwide economic crisis, and companies in almost any branch of the industry have felt it even worse. It seems that even though projections about the future are optimistic, Kuwaiti financial company Investment Dar is facing some serious troubles, and has just signed an agreement in order for the investors to give it time to solve its problems and get back on the profit side of things.
Why should it bother us that some Arab fund is running out of “oil dollars” you say? Well how about the fact that it owns about half of famous UK automaker Aston Martin. That’s right, Investment Dar, alongside other names like former racer Dave Richards, banker John Singers and Adeem Investment bought the company from Ford in March, 2007. The money paid by Dar was around $925 million, but just last year it seems that the company was trying to get a loan of about $1 billion, in order to solve its financial problems.
Hopefully though the company will get a break thanks to this agreement from investors and will manage to pull itself from the hole it dug. Also, let’s keep our fingers crossed for Aston Martin, even though some of their cars aren’t driven by the most qualified people.