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Aston Martin (LON:AML) has announced plans to raise over £125 million ($161.9 million) through funding from Chairman Lawrence Stroll's investment vehicle and the sale of a minority stake in the Formula One team he owns. This move comes as the luxury carmaker struggles with rising losses and debt, having recently cut 5% of its workforce.
Since acquiring the company in 2020, Stroll has invested approximately £600 million into Aston Martin. His Yew Tree Consortium will now invest £52.5 million, purchasing 75 million shares at 70 pence each. This investment will increase Stroll's stake to 33% from 27.7%, with Yew Tree expressing interest in raising it further to 35%. Other major shareholders include Geely and Saudi Arabia’s sovereign wealth fund.
Aston Martin also plans to sell a portion of its stake in the Aston Martin Aramco Formula One team, which is expected to generate a premium above the current book value of £74 million. The company, famous for its association with James Bond, has revised its car volume growth forecast to "modest growth" from its previous expectation of mid-single-digit percentage increases.
These strategic financial moves reflect Aston Martin's ongoing efforts to secure capital and stabilize its financial position amid challenging market conditions. The investment from Stroll's consortium and the stake sale in the Formula One team are expected to provide critical support for the carmaker's future plans.
