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 »
2y 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...
2y ago from Formula1News.co.uk
Defeat to Leclerc ‘a surprise' in Austria...
Jul.11 Red Bull admits Charles Leclerc's victory for championship...
2y 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...
2y ago from OneStopStrategy.com
Elsewhere On The Network
Popular On MGPToday.com
What is Marc Marquez’s most special MotoGP victory?
No description available...
4h ago from Motorsport.com
Lorenzo lands front row Start for Indianapolis GP
No description available...
1h ago from Motorsport.com
Marquez and Pedrosa complete perfect 1-2 in qualifying...
No description available...
1h ago from Motorsport.com
Gresini and Cecchinello: Two decades as grand prix...
No description available...
1h ago from Motorsport.com
Popular On IndyCarToday.com
Pietro Fittipaldi is fueled by 5-Hour Energy and lots...
No description available...
1h ago from Motorsport.com
How Scott Dixon pulled off another fuel-saving...
No description available...
22h ago from Motorsport.com
Scott Dixon bet on two stop strategy after he saw...
Scott Dixon took victory in Sunday’s IndyCar race from Mid-Ohio,...
2d ago from MotorsportWeek.c...
IndyCar Mid-Ohio – Race Results
IndyCar visited Mid-Ohio over the weekend for Honda’s home event and a...
2d ago from MotorsportWeek.c...
Popular On TotalWRC.com
F1 celebrates historic milestone with big events and...
No description available...
1h ago from Motorsport.com
Dermot O’Leary to host the 2025 Autosport Awards
No description available...
1h ago from Motorsport.com
How Oliver Solberg is preparing for "dream”...
No description available...
2h ago from Motorsport.com
Saudi’s first female racer welcomes a new future for...
No description available...
1h ago from Motorsport.com
Popular On GunnersToday.com
Liverpool could ruin Arsenal's transfer plans if Luis...
Liverpool’s transfer plans for the summer could hinge heavily on the...
1h ago from CaughtOffside.com
Arsenal prepare cash-plus-player bid to sign Premier...
Arsenal have reportedly retained their interest in signing Eberechi Eze...
1h ago from SportsKeeda.com
Arsenal suffer blow as deals for Sporting CP's Viktor...
Arsenal's moves for Sporting CP's Viktor Gyokeres and Chelsea's Noni...
1h ago from SportsKeeda.com
'Can't thank him enough' – Viktor Gyokeres makes...
Sporting Lisbon striker Viktor Gyokeres has spoken out about his former...
3h ago from CaughtOffside.com
Comments
Hottest News
Breaking: Christian Horner leaves Red Bull with immediate...
Christian Horner has led Red Bull since the very... Read More »
5h ago from RacingNews365.com
Two more leading figures leave Red Bull alongside Christian...
Christian Horner is not the only one who has left... Read More »
1h ago from RacingNews365.com
Christian Horner's Red Bull exit could open the door to...
Red Bull has announced that Christian Horner has... Read More »
3h ago from MotorsportWeek.com
