Aston Martin Lagonda Holdings has been hit hard in the last year by financial pressures, debts and falling share prices.
In the month of May, CEO Tobias Moers , who had been hired by Lawrence Stroll , was replaced by a former Ferrari senior, Amedeo Felisa .
Now, the company has announced that it will receive new “equity and strategic investment financing” from the Saudi Arabian Public Investment Fund (PIF), which owns the Aston Martin team’s current main sponsor, Aramco .
In July 2021, the PIF became a major investor in the McLaren Group as part of a refinancing of the Woking-based organisation. He is also the owner of Newcastle United , an English football team, and the controversial organization LIV Golf .
With additional funding from current investors, including Mercedes-Benz, Aston Martin will raise a total of £653m (nearly €770m), leaving PIF as the second largest shareholder, with a 17% stake in the company.
Stroll’s Yew Tree consortium will now own 18.3%, while Mercedes-Benz will retain 9.7%, with both reducing their holdings.
In the announcement of this new investment, the British structure has confirmed that it has rejected an investment proposal from a consortium that included the Chinese group Geely , which has brands such as Volvo, Proton and Lotus in its portfolio.
Lawrence Stroll, propietario de Aston Martin Racing
Lawrence Stroll explained that the Saudi investment was very important to the company.
“Overall, this is a game-changer for Aston Martin , supporting the realization of our strategic plans and accelerating our long-term growth potential.”
“It transforms our balance sheet, our liquidity and provides greater clarity on our path to becoming sustainable, as well as creating significant value for shareholders.”
“With the new leadership team, led by Amedeo Felisa , we have the right people and the right strategy to deliver good long-term potential at Aston Martin.”
He also underlined the role of the Formula 1 team in promoting the brand: “Aston Martin’s return to the pinnacle of motorsport as Aston Martin Aramco Cognizant F1 has also marked the start of a new era for our iconic British brand.”
“Our focus is on building brand equity and unlocking the full potential that Aston Martin has and is already unlocking growing demand from a new generation of customers.”
Do you want to read our news before anyone else and for free? Follow us here on our Telegram channel and you won’t miss a thing. All the information, at your fingertips!
