Aston Martin said on Friday it was looking to raise 653 million pounds ($771.58 million) through a right issue to shareholders, while bringing in Saudi Arabia's sovereign wealth fund as its second-largest shareholder.
The Aston Martin logo is seen on a V12 Vantage car at the company’s factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil Noblesaid on Friday it was looking to raise 653 million pounds through a right issue to shareholders, while bringing in Saudi Arabia's sovereign wealth fund as its second-largest shareholder.
The luxury carmaker said Saudi's PIF, largest shareholder Yew Tree Consortium and Mercedes-Benz AG will together invest 335 million pounds. The financing will involve a separate rights issue of 575 million pounds. PIF will own 16.7% stake in Aston Martin, behind the 18.3% holding by Chairman Lawrence Stroll's Yew Tree. Mercedes, which owns about a 11.7% stake, will cut its stake to about 9.7% with the announcement.
Last month, the Financial Times reported that PIF, which has a stake in electric carmaker Lucid and British supercar group McLaren, was in early talks with Aston Martin for a share of the business.Reporting by Eva Mathews in Bengaluru; Editing by Arun Koyyur
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Used ASTON MARTIN VULCAN | 1 OF 24 WORLDWIDE for saleBuilt in a strictly limited run of just 24 cars and delivered to customers throughout 2016, the 820BHP Aston Martin Vulcan was conceived and engineered to deliver the excitement and exceed the performance of Aston Martin’s Le Mans-winning race cars. - Chassis No. AMLVULCANXXXXXX15 - Finished in Ceramic Grey with Blue Accents and a Black Interior. - Chassis No. 15 was the final AM Vulcan to be sold new by Aston Martin VIP Sales. The Vulcan can be converted for road registration. Please get in touch for further information and pricing. Delivered new in August 2016 1 Owner 90KM Track only Aston Martin Supercar Build number 15 of 24 cars Carbon fibre tub based on One-77 technology built by Multimatic Integrated FIA-compliant high strength steel roll cage subframe to package the transmission, suspension and increased loading from rear wing Aston Martin Racing-built 7.0 Litre V-12 engine Factory rated at 820 horsepower Xtrac 6-speed sequential gearbox Sachs competition clutch Cosworth electronic control unit Engine features 3-position adjustable power outputs Inconel and titanium side exhaust Magnesium casing Torque Tube driveshaft with carbon fibre propeller shaft 4-way adjustable pushrod double wishbone suspension Anti-dive geometry on front suspension Anti-squat and anti-lift geometry on rear suspension Brembo Carbon Ceramic Racing Disc brakes Bosch M4 motorsport driver-adjustable 11-position anti-lock-braking system APP-Tech 19-inch 10-spoke Satin Black forged alloy wheels Michelin Pilot Sport Cup 2 tires Recaro full carbon fibre frontal head restraint compatible racing seats Schroth 6-point racing harness AP Racing adjustable pedal box Adjustable steering column Bespoke carbon fibre steering wheel with starter button, neutral, pit lane limiter, indicator, flash-to-pass, adjustable ABS, traction control, wipers and paddle shifters Cosworth Omega dash and data acquisition system with data download port LED headlamps with Daytime Running Lights, Directional Indicator, M
Read more »
Steve Martin 'Dismayed' Over Selena Gomez's Emmy Snub From Only Murders in the BuildingComedy legend Steve Martin is as disappointed as anybody else that his Only Murders in the [...]
Read more »
British Pound Technical Analysis: GBP/JPY, GBP/USD, EUR/GBP Rates OutlookThe GBP continues to struggle in the wake of UK PM Johnson’s resignation. GBP/USD rates have hit fresh yearly lows, GBP/JPY remains rangebound, and EUR/GBP is contending with struggles on both sides of the English Channel.
Read more »
Liz Truss gains support from Frost, Braverman in UK PM race- mediaUK Foreign Secretary Liz Truss has gained backing from Brexit negotiator David Frost and British lawmaker Suella Braverman to become the next UK prime minister, British media reported on Thursday.
Read more »
Used ASTON MARTIN VULCAN | 1 OF 24 WORLDWIDE for saleBuilt in a strictly limited run of just 24 cars and delivered to customers throughout 2016, the 820BHP Aston Martin Vulcan was conceived and engineered to deliver the excitement and exceed the performance of Aston Martin’s Le Mans-winning race cars. - Chassis No. AMLVULCANXXXXXX15 - Finished in Ceramic Grey with Blue Accents and a Black Interior. - Chassis No. 15 was the final AM Vulcan to be sold new by Aston Martin VIP Sales. The Vulcan can be converted for road registration. Please get in touch for further information and pricing. Delivered new in August 2016 1 Owner 90KM Track only Aston Martin Supercar Build number 15 of 24 cars Carbon fibre tub based on One-77 technology built by Multimatic Integrated FIA-compliant high strength steel roll cage subframe to package the transmission, suspension and increased loading from rear wing Aston Martin Racing-built 7.0 Litre V-12 engine Factory rated at 820 horsepower Xtrac 6-speed sequential gearbox Sachs competition clutch Cosworth electronic control unit Engine features 3-position adjustable power outputs Inconel and titanium side exhaust Magnesium casing Torque Tube driveshaft with carbon fibre propeller shaft 4-way adjustable pushrod double wishbone suspension Anti-dive geometry on front suspension Anti-squat and anti-lift geometry on rear suspension Brembo Carbon Ceramic Racing Disc brakes Bosch M4 motorsport driver-adjustable 11-position anti-lock-braking system APP-Tech 19-inch 10-spoke Satin Black forged alloy wheels Michelin Pilot Sport Cup 2 tires Recaro full carbon fibre frontal head restraint compatible racing seats Schroth 6-point racing harness AP Racing adjustable pedal box Adjustable steering column Bespoke carbon fibre steering wheel with starter button, neutral, pit lane limiter, indicator, flash-to-pass, adjustable ABS, traction control, wipers and paddle shifters Cosworth Omega dash and data acquisition system with data download port LED headlamps with Daytime Running Lights, Directional Indicator, M
Read more »
Creator Network Trend Raises $3M From Investors Including Pharrell Williams (Exclusive)'This will allow us to further our mission of becoming the world’s largest creative studio, without ever having to be constrained to a single studio space,' says CEO Ramon Berrios.
Read more »