Aston Martin owner Investment Dar Co. has received competing bids from Investindustrial and Mahindra & Mahindra for half the sports-car maker, three people familiar with the matter said.
Investment Dar and other Kuwaiti investors who own Gaydon, Britain-based Aston Martin may choose a winner as early as this weekend, said the people, who asked not to be identified because the talks are private. The buyer will get the stake as part of a capital increase, two of the people said.
Investindustrial, a European private-equity fund based in London, offered just under $401 million, said the people. Indian automaker Mahindra had a higher bid, they said.