James Packer to buy Aston Martin?

[XR Martin]

From news.com.au

Australia's richest man is looking to spend $1.5 billion on the maker of the spy's favourite car, the Aston Martin.

Not satisfied with owning just one of the rare DB9 Aston Martins, worth about $400,000, Mr Packer is reported to be part of a group of Australian investors hoping to buy the whole company.

Mr Packer's family company Consolidated Press Holdings is part of the consortium bidding for the British luxury carmaker, which was put on the market by Ford in August last year.

The newest model of the Aston Martin featured in the latest James Bond film, Casino Royale, is fitted with an array of gadgets including an automated external defibrillator and a service pistol.

Mr Packer, 39, who hosted a party for the Australian cricket team on his $17 million luxury boat last week, is up against a number of bidders which could include former Ford chief executive Jac Nasser, an Australian.

Others include Syrian-born billionaire Simon Halabi, private equity groups Permira and Doughty Hanson, and Canadian company Magna International, Britain's Sunday Telegraph newspaper says.

The global Aston Martin owners' club includes royalty, with Prince Charles heading an A-list of fast-car high flyers.

Other Aston Martin lovers include US stars Sharon Stone and J-Lo. In Australia, owners include broadcaster John Laws and actor Heath Ledger.

Sydney-based Aston Martin importer Trivett Classic welcomed news of Mr Packer's possible involvement.

"This really is news to us. It would be great to have an Aston fan own the company, especially an Australian Aston fan," Trivett manager Keith McArdle said.

He said the Bond films continued to be a rich source of publicity for the carmaker.

"The Bond film Die Another Day signalled the new beginning for Aston Martin about five years ago when it was used to launch the Vanquish (model)," Mr McArdle said.

The latest move from Mr Packer comes after Nine Network owner Publishing & Broadcasting announced a $5.5 billion private equity deal in October.

PBL transferred its extensive media assets to a new company - PBL Media - which will be equally owned by PBL and private equity firm CVC Asia Pacific.

Media analyst Peter Cox of Peter Cox Media questioned Mr Packer's latest strategy.

"CPH's cattle investments are apparently doing badly," Mr Cox said.

"They went for a period when they lost a lot of money on their coal investments, and in another period they lost money doing real estate deals.

"It is difficult to go into other people's territory and make money out of it."