Last week we told you that that Investment Dar, the Kuwaiti firm that owns Aston Martin, was looking to sell its stake and was entertaining offers from the Indian company Mahindra and Mahindra and the London based investment firm Investindustrial, which is most notable in the automotive industry for having just sold Ducati to the VW Group. Bloomberg is now reporting that Mahindra has pulled out of the bidding for the maker of British exotics and that the London firm is almost certainly going to purchase the company. The price, however, is yet to be decided, but the company is valued at around $1.21 billion.

This sale should give Aston Martin the money to move itself forward technologically, as it is currently falling behind the pack.

Related: The Complete History of James Bond's Aston Martins
Related: The 25 Best Aston Martins Of All Time

[via Bloomberg]