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Racing Point F1 Owner Stroll Buys Stake in Aston Martin
31 Jan 2020
Canadian billionaire and Racing Point F1 owner Lawrence Stroll has led a consortium in buying a 16.7% stake in luxury automotive manufacturer Aston Martin, investing £182 million.
Overall Aston Martin has secured £500 million of new funding through investment from the consortium, plus the issuing fresh shares, boosting the future plans of the iconic British brand.
The deal will see Lawrence Stroll take over as Executive Chairman of Aston Martin, and the Racing Point F1 team will be rebranded as the Aston Martin F1 works team from 2021. Dr Andy Palmer will remain as CEO of Aston Martin.
There had also been interest in investment from Chinese car maker Geely, but Stroll’s consortium was announced as making the significant new investment at a board meeting last night.
The news does not change Aston Martin’s commitment to releasing the world-beating Valkyrie hypercar this year, nor its exciting mid-engined strategy starting with the Valhalla after that.
Image: Aston Martin
Reference: AutoCar (2020) “Billionaire Stroll takes major stake in Aston Martin” (https://www.autocar.co.uk/car-news/industry/billionaire-stroll-takes-major-stake-aston-martin) 31/1/2020
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