Ford to Sell Aston Martin

Ford Motor Co., seeking to raise cash after last year’s $12.7 billion loss, will sell its Aston Martin luxury-car unit to a group of investors including the U.K.’s David Richards, the Financial Times reported.

The price is almost 450 million pounds ($867.8 million), the Financial Times said.

Put up for sale in August, Aston Martin is part of Ford’s Premier Automotive Group of European luxury brands, which had a $327 million pretax loss last year mainly because of the Jaguar unit.

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