Lawrence Stroll-Led Group Raises Stake in Aston Martin to 26%
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2023-09-29 15:24
Aston Martin Lagonda Global Holdings Plc said Executive Chairman Lawrence Stroll’s Yew Tree Consortium agreed to boost its

Aston Martin Lagonda Global Holdings Plc said Executive Chairman Lawrence Stroll’s Yew Tree Consortium agreed to boost its stake in the carmaker to 26.2%.

Certain members of Yew Tree are buying an additional 26 million shares in the carmaker, after the group’s initial investment, according to a statement.

The manufacturer has been working to return to profit in a turnaround effort that’s resulted in multiple capital raises. Aston Martin reported second-quarter earnings that beat analyst expectations, but left its full-year guidance unchanged.

Yew Tree sold some of its stake to Chinese conglomerate Geely Automobile Holdings Ltd. earlier this year, then participated in a capital raising this summer.

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