$450 million Shari'ah compliant facilities for Aston Martin
Aston Martin Investment has announced that the general syndication of its $450 million Shari'ah compliant senior secured acquisition facilities is now closed. On 12 March 2007, a consortium led by The Investment Dar, Adeem Investment and Wealth Management and David Richards, agreed to acquire 100 per cent of the ordinary shares of luxury sports car manufacturer, Aston Martin Lagonda Group for a total transaction value of $1.02 billion via a newly established company Primrosehaven, later renamed Aston Martin Investments. The acquisition was the first ever UK LBO to be entirely backed by Shari'ah compliant debt. The facilities were fully underwritten by WestLB.