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...
2y 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
MotoGP Dutch GP: Marc Marquez beats brother to latest...
No description available...
44m ago from Motorsport.com
Marc Marquez secures Assen MotoGP Sprint victory
Marc Marquez secured an impressive MotoGP Sprint race victory in Assen...
1h ago from MotorsportWeek.c...
Jorge Martin 'free to sign with anyone' in MotoGP,...
No description available...
6h ago from Motorsport.com
Fabio Quartararo fastest in final Assen MotoGP practice
Fabio Quartararo leads the way after posting the fastest time in the...
5h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Where does Santino Ferrucci see his first IndyCar win...
No description available...
20h ago from Motorsport.com
IndyCar will not return to Thermal Club in 2026...
According to comments made by Thermal Club founder and owner Tim Rogers,...
1d ago from MotorsportWeek.c...
Malukas’ recovery drive secures Foyt’s best team...
During Sunday’s IndyCar race at Road America, David Malukas was the...
3d ago from MotorsportWeek.c...
Winners and Losers from IndyCar’s Road America...
No description available...
5d ago from Motorsport.com
Popular On TotalWRC.com
WRC Acropolis Rally: Ott Tanak extends lead as Adrien...
No description available...
4h ago from Motorsport.com
Thierry Neuville slams Hankook tyres at WRC Acropolis...
No description available...
2h ago from Motorsport.com
Extreme heat at the Acropolis Rally just pushed WRC...
No description available...
15h ago from Motorsport.com
Ott Tanak tames rough Acropolis Rally Greece
Ott Tanak and Martin Jarveoja ended a rough, puncture-riddled opening day...
20h ago from MotorsportWeek.c...
Popular On GunnersToday.com
Thierry Henry’s old comment about Nicolas Jackson...
Thierry Henry's old comments on Nicolas Jackson have resurfaced amid...
1h ago from SportsKeeda.com
Marcus Rashford rejects Chelsea and 2 other Premier...
Manchester United attacker Marcus Rashford has reportedly declined offers...
2h ago from SportsKeeda.com
‘His priority is Arsenal' – Fabrizio...
Liverpool’s interest in Sporting striker Viktor Gyokeres has been...
4h ago from CaughtOffside.com
Premier League club initiate contact to sign...
Sunderland are eyeing a move for former Arsenal midfielder Matteo...
4h ago from SportsKeeda.com
Comments
Hottest News
F1 2025 Austrian Grand Prix – FP3 Results
McLaren's Lando Norris posted the quickest time... Read More »
3h ago from MotorsportWeek.com
FP3: Norris heads another McLaren one-two, Ferrari...
On the back of McLaren’s dominant showing on... Read More »
2h ago from F1Technical.net
F2 star FLIPS upside down in terrifying multi-car crash at...
Formula 2 star Sami Meguetounif's car flipped... Read More »
1h ago from GPFans.com
