News Details
Saudi Arabia sovereign fund buys a 17% Aston Martin stake
Saudi Arabia's sovereign wealth fund will become the second-largest shareholder of Aston Martin with a nearly 17% stake in a capital raise aimed at paying off debt and shoring up its business, the British luxury carmaker said on Friday. The company, faced with with high debt, a torrid stock fall and a struggling Formula 1 team, said it planned to raise 653 million pounds ($773.15 million) through PIF's 78 million pound investment and a separate rights issue of 575 million pounds. The Saudi fund will own 16.7% stake in Aston Martin, behind the 18.3% holding by Chairman Lawrence Stroll's Yew Tree will have after the rights issue, and will be entitled to two board seats at the carmaker....
Full Story »
Full Story »
3y ago from GrandPrix247.com
0
You May Also Be Interested In...
Max Verstappen says he ‘certainly won't fall...
Red Bull’s Max Verstappen has revealed that he has always stayed true...
3y ago from Formula1News.co.uk
Defeat to Leclerc ‘a surprise' in Austria...
Jul.11 Red Bull admits Charles Leclerc's victory for championship...
3y ago from OneStopStrategy.com
Vettel ‘could retire' because of ‘slow'...
Jul.9 Retirement could be just around the corner for quadruple world...
3y ago from OneStopStrategy.com
Number 1 driver not Ferrari's ‘top priority'...
Jul.13 Reliability is Ferrari's 'top priority' rather than the...
3y ago from OneStopStrategy.com
Elsewhere On The Network
Popular On MGPToday.com
Andrea Dovizioso: “Marc Marquez’s situation is...
No description available...
21h ago from Motorsport.com
Maverick Vinales undergoes shoulder surgery to remove...
No description available...
1d ago from Motorsport.com
Why Toprak Razgatlioglu isn’t satisfied with his...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Fast-paced schedule proving beneficial for IndyCar’s...
The NTT IndyCar Series recently completed its fourth racing weekend in...
1d ago from MotorsportWeek.c...
Winners and losers from IndyCar at Barber Motorsports...
No description available...
2d ago from Motorsport.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
4d ago from Motorsport.com
Pato O’Ward left searching for answers after...
No description available...
3d ago from Motorsport.com
Popular On TotalWRC.com
Kalle Rovanpera returns to WRC with Subaru
Double WRC Champion Kalle Rovanpera is set to return to the WRC next year...
1d ago from MotorsportWeek.c...
Former FIA vice president and WRC boss Morrie Chandler...
No description available...
4d ago from Motorsport.com
Subaru teases new rally car for Japanese Championship
No description available...
1w ago from Motorsport.com
How Toyota’s new flying Finn is starting to make WRC...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Mikel Arteta convinced £87m star would be perfect for...
Arsenal are reportedly among the clubs circling for the potential transfer...
45m ago from CaughtOffside.com
Southampton vs Arsenal Prediction and Betting Tips |...
Southampton and Arsenal will square off in an FA Cup quarterfinal tie on...
1h ago from SportsKeeda.com
Arsenal & Man Utd on alert as England star...
Morgan Rogers has reportedly decided he wants to leave Aston Villa this...
1h ago from CaughtOffside.com
No explanation required
Morning all. We'll hear from Mikel Arteta today for the first time in a...
1h ago from Arseblog.com
Comments
Hottest News
Jack Doohan to race in European Le Mans Series in 2026
Former Alpine Formula 1 team and current Haas... Read More »
55m ago from GrandPrix247.com
Williams sack James Vowles, sign Christian Horner and...
As many expected, James Vowles has been given his... Read More »
1d ago from GrandPrix247.com
Oscar Piastri fires 'beatable' F1 warning to Mercedes
Mercedes has enjoyed a strong start to the new... Read More »
1h ago from RacingNews365.com
