15.03.2007
WestLB breaks new ground with Aston Martin / Islamic financing deal
In a deal widely seen as the first LBO in the UK to use Islamic finance, WestLB has been appointed to arrange £225m of quasi debt finance for the consortium which last week bought the iconic brand Aston Martin from Ford Motor.
The appointment of WestLB confirms it as a respected and experienced player in the increasingly important Islamic finance sector which is expected to grow rapidly over the coming years and which is today estimated to have assets of well over £155billion worldwide. WestLB is one of the top five western banks in this fast developing sector.
WestLB will syndicate the Aston Martin LBO finance among Islamic banks in the Gulf and London. David Testa whose team at WestLB arranged the deal said that the financing would be arranged in an exclusively shariah-compliant way.
Aston Martin make the favourite sports car of James Bond and other well known celebrities.
The appointment of WestLB confirms it as a respected and experienced player in the increasingly important Islamic finance sector which is expected to grow rapidly over the coming years and which is today estimated to have assets of well over £155billion worldwide. WestLB is one of the top five western banks in this fast developing sector.
WestLB will syndicate the Aston Martin LBO finance among Islamic banks in the Gulf and London. David Testa whose team at WestLB arranged the deal said that the financing would be arranged in an exclusively shariah-compliant way.
Aston Martin make the favourite sports car of James Bond and other well known celebrities.