Geely boosts Aston Martin stake to 17% 

Aston Martin said Geely Automobile Holdings had committed to invest about 234 million pounds ($295 million) in the British luxury automaker, making the Chinese automotive group its third largest shareholder. As part of the transaction, Geely will acquire a 17 percent stake in Aston Martin, purchasing 42 million shares from Chairman Lawrence Stroll’s Yew Tree consortium along with 28 million new shares, Aston Martin said in a stock exchange filing. “Geely Holding, who initially became a shareholder last year, sees tremendous potential for Aston Martin’s long-term growth and success,” Stroll said in a statement. “They offer us a deep understanding of the key strategic growth market that China represents, as well as the opportunity to access their range of technologies and components,” he said. Aston Martin has struggled with cash and acquired Saudi Arabia’s Public Investment Fund as a shareholder last year as Stroll looks to turn around the automaker around and pivot to battery-powered sports cars. #investment #automotive #opportunity #growth #automotiverecruitment   Source: https://europe.autonews.com/automakers/geely-ups-aston-martin-stake-17-third-largest-shareholder