The luxury carmaker Aston Martin has announced theyโre considering selling their minority stake in the Aston Martin Aramco Formula 1 team to help improve their finance.
Lawrence Strollโs Yew Tree Consortium have said they are looking to invest another ยฃ52.5 million to grow their shareholding.
Strollโs son is the driver for the F1 team, Lanc Stroll, and the father is the majority owner of the F1 team.
Stroll, who is also executive chairman of the luxury carmaker, said, โThis proposed investment further underscores my conviction in this extraordinary brand, and commitment to ensuring Aston Martin has the strongest possible platform for creating long-term value while reducing equity dilution via this premium subscription, which should greatly reassure shareholders, as I again increase my long-term ownership in the company.
โNow five years into Aston Martinโs transformation, I remain highly confident about the companyโs medium-term prospects having re-positioned the company as one of the most desirable ultra-luxury high performance automotive brands.
โThe coming years will be pivotal in realising our vision and ambition.โ
Adrian Hallmark was recently appointed chief executive of Aston Marting to turn the finances around.
Hallmark said, โThis renewed support from Lawrence and his Yew Tree Consortium partners underlines their immense confidence in our team and the future of the company.
โWe are committed to demonstrating that our strategy delivers long-term growth.
โBy strengthening the balance sheet, this investment provides additional headroom to support our future product innovation and business transformation activities, which combined, will accelerate our progress into being a sustainably profitable company.โ
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