David Richards, the chairman of Aston Martin, will be the guest of honour at the gala dinner of the London Sukuk Summit later this month.

The summit will be held on June 25 and 26 under the theme ‘Gearing up for UK Sukuk Originations’. Richards will speak at the gala dinner on the evening of June 25.

The event, to be held at the Royal Horseguards in Whitehall, London, is endorsed by the UK Treasury; UK Trade & Investment (UKTI), City of London Corporation; and the London Stock Exchange.

Richards, who is a former professional rally driver and also the chairman of Prodrive, a world-leading independent motor sport and automotive technology business, will speak on the pioneering 522 million pounds acquisition of Aston Martin from Ford Motor Company by a consortium led by Kuwait’s The Investment Dar Company (TID) and Adeem Investments & Wealth Management, said a statement.

The acquisition of an iconic world-class UK brand highlights the cutting edge innovation of Islamic transactions, combining an internationally-known UK asset with Islamic investment. The Aston Martin was ideal for acquisition because it is a debt-free company and therefore ideal for leveraging. Not surprisingly, the acquisition was financed partly through equity and partly through a Murabaha facility in a Shariah-compliant leveraged buy-out (LBO), said the statement.

The Aston Martin LBO story gives a fascinating insight into the possibilities for Islamic private equity and structured finance opportunities in the UK and the European Union. This is a must-listen to story for corporates and entities, especially if they are interested in sourcing Islamic finance for UK assets or vice versa, it said.

The gala dinner is sponsored by Saudi Arabian Basic Industries Corporation (Sabic), one of the world’s largest petrochemical exporters. The gala dinner will also host the Annual Sukuk Summit Awards of Excellence.

Senior speakers from the Financial Services Authority; the Japan Bank for International Cooperation; Dubai International Financial Centre; The Islamic Financial Services Board; the Islamic Corporation for the Insurance of Export Credits and Investment; and prominent organizations and market players have already committed to participate at this year’s summit, said organisers ICG Events.

More information on the summit is available from Nazia Khanam at Nazia@icg-events.com - TradeArabia News Service