POST Online Media Lite Edition


Canadian billionaire Lawrence Stroll takes stake in Aston Martin

Christian Fernsby |
Canadian billionaire Lawrence Stroll will take an up to 20% stake in Aston Martin for nearly 200 million pounds ($263 million) as the ailing carmaker raises funds after a sales drop put pressure on its finances.

Article continues below


Aston Martin's share price has plummeted since floating in October 2018 and it has come late to the lucrative sport utility vehicle (SUV) market which boosted rivals.

The company will raise a total of 500 million pounds, including a rights issue from existing major shareholders, it said on Friday, as it begins building its first SUV.

What to read next

Daimler to get 5% in Aston Martin, to give engines
Aston Martin contracts worth over £60m on offer to Welsh firms
Aston Martin invests millions in Gaydon