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Aston Martin drives 'milestone' £5bn float

Aston Martin drives 'milestone' £5bn float

Business
Aston Martin says it is gearing up for a "key milestone" in its history through a stock market listing. The luxury UK sports car manufacturer confirmed a story by Sky News on Tuesday that it had started the flotation process, with the aim of launching the prospectus for its Initial Public Offering (IPO) on 20 September.Further details were expected to be released later on Wednesday when registration documents, submitted to the Financial Conduct Authority (FCA), are due to be published.Sky's City editor, Mark Kleinman, has already reported that the IPO would be expected to value James Bond's favourite carmaker - currently owned by Italy's Investindustrial and Kuwaiti vehicle Investment Dar - at £5bn. Image: The 1964 Aston Mar...
Aston Martin revs up for London listing

Aston Martin revs up for London listing

Business
Aston Martin is expected to confirm plans to list on the London Stock Exchange when it announces annual results on Wednesday morning.The British sports car maker said earlier this year it was considering making its shares available to the public or looking for a buyer.It is understood the company will seek to sell a stake worth about £1bn, valuing it at between £4bn and £5bn.Aston Martin sold 5,000 cars last year making its first profit since 2010.Its main shareholders, Italian private equity fund Investindustrial and a group of Kuwaiti investors, hired an investment bank to advise on options at the start of the year.Under Andy Palmer, who left Nissan to become chief executive in 2014, Aston Martin's fortunes have been revived with the f...
Lockheed Martin to upgrade special operations C-130 aircraft

Lockheed Martin to upgrade special operations C-130 aircraft

Business
April 17 (UPI) -- Lockheed Martin was awarded a contract for upgrades on special operations C-130 fixed wing aircraft, along with engineering and support services.The deal, announced Monday by the Department of Defense, is potentially valued at $ 18 million under the terms of a indefinite-delivery, indefinite-quantity with firm-fixed-price and cost-plus-fixed-fee agreements on varies line items.Known officially as the MC-130H Combat Talon II, the contract enables Lockheed Martin to provide "operational flight program upgrades" on the aircraft, in addition to, "systems engineering and integration support activities encompassing multiple third-party systems sources," according to a Defense Department contract announcement.Work on the contract will occur in Marietta, Ga., and is expected to b...
Bank trio to lead £4bn Aston Martin float

Bank trio to lead £4bn Aston Martin float

Business
The British luxury car-maker Aston Martin is lining up a trio of banks to lead a prospective £4bn stock market listing that could take place within months.Sky News has learnt that the manufacturer of James Bond's vehicle of choice is close to hiring Deutsche Bank, Goldman Sachs and JPMorgan as the global co-ordinators for a long-awaited initial public offering (IPO).The appointment of the three investment banks is understood to have been recommended by board members and is awaiting sign-off from Aston Martin's two Italian and Kuwaiti shareholders, according to insiders.If confirmed, the move will see Deutsche, Goldman and JPM take the most prized positions on a public listing that has had dozens of Wall Street and City banks clamouring to be involved.Aston Martin, which said in February th
Lockheed Martin delivers first of 3 radars to Latvian military

Lockheed Martin delivers first of 3 radars to Latvian military

Business
March 12 (UPI) -- Lockheed Martin has delivered the first of three radars to Latvia, the company said Monday, calling it "a major step forward in strengthening [the country's] national defense."The TPS-77 Multi-Role Radar, purchased for an undisclosed cost in a 2015 contract, recently completed an on-site acceptance test and will increase the Latvian air force's capacity for low-level flight surveillance and identification, Lockheed Martin said. The company said it has worked with the NATO country on its radar systems for the last 16 years.The radar, which can be easily transported and mounted on a truck, can toggle between multiple missions at once by automatically adjusting during each 360-degree scan.Lockheed Martin added that the TPS-77 MRR uses less power than its predecessors, increa...