$292 million deal will give Aston access to $118 million to soothe cashflow issues car auto cars
is as British as drizzle and telling an enquiring waiter that your awful meal was actually delicious, but a big slice of the company has just set sail for China.but now the Chinese automaker has upped its stake to 17 percent. Geely Automobile Holdings will invest £234 million in Aston Martin, making it the third largest shareholder behind chairman Lawrence Stroll and Saudi Arabia’s Public Investment Fund.
Under the new deal, Geely will receive 42 million shares from Stroll’s Yew Tree consortium, plus 28 million new shares and the chance to appoint a director to the sports car brand’s board. Aston, meanwhile, will gain access to £95 million to help improve its weak cashflow position and has an agreement in place stating that
won’t acquire additional shares that would take its stake past 22 percent until August 2024 at the earliest.
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