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Kuwaiti firm Investment Dar denies competing bids made for 50% stake in Aston Martin

Aston Martin cars were made famous by James Bond films
Aston Martin cars were made famous by James Bond films

The company Investment Dar which owns Aston Martin has denied reports that it has received competing bid for a 50% stake in the car brand.

Italian private equity fund Investindustrial is widely reported to have made an offer of nearly £250m for Aston Martin.

India's Mahindra is understood to have made a higher offer.

The Kuwaiti firm Investment Dar's chairman has denied that there has been a competing offer.

The current owners bought the business from Ford five years ago to expand into Asia.

While Asian sales have risen, sales in the UK and North America have been badly affected by the financial crisis.

It also has failed to develop new products capable of competing with Ferrari and Porsche.

The cars, which were made very famous by James Bond films, are made in Warwickshire, the heartland of England's early 20th century motor manufacturing.

The company shut down in 1925, when it was hit with financial troubles, a trend that would continue throughout the its life.

In 1926 it was rescued by a group of investors.

It saw another change of ownership in 1972.

In 1975 the company went into receivership and was rescued by a consortium.

'Lagonda' as the sister marque of Aston Martin was relaunched.

The owners changed again in the 1980s and in 1987, Ford took a 75% stake in the firm.

In March 2007, it was sold to a consortium of Investment Dar and Adeem Investment

In 1963, the Aston Martin DB5 launched and it had its first outing as James Bond's car in Goldfinger, starting a relationship that has spanned 11 out of the 23 Bond films to date.