Aston Martin sells shares in its F1 team

Aston Martin will raise more than £125 million – or nearly €150 million – following a reorganisation of its shareholding, both for the car manufacturer and for the team F1. Indeed, Lawrence Stroll and his Yew Tree consortium will increase their stake in the British brand: by injecting an additional 62,7 million euros through the purchase of 75 million shares (at 0,83 euros per share), the Canadian businessman increases his stake from 27,7% to around 33% in the Gaydon firm.

Since taking over at the helm of Aston Martin in 2020, Lawrence Stroll and his consortium have already raised six rounds of funding and cut 5% of the British automaker's workforce. Supply chain issues, delivery delays, and declining demand in China have plagued Aston Martin in recent years. Since 2020, the Canadian has invested around £600 million – or around €717 million – in Aston Martin. This investment "should greatly reassure shareholders", Lawrence Stroll said in a statement. It should be remembered that the manufacturer Geely and the Saudi Arabian sovereign wealth fund are the other main shareholders of the brand.

Regarding the Formula 1 team, Aston Martin also announced that it would sell minor stakes in its team to raise £74 million, or €88,5 million. Last September, according to Sky News, Accel and HPS Investment Partners, two leading global investors, had purchased around 20% of the Formula 1 team's shares, bringing the value of the Aston Martin team to between €1,8 billion and €2,4 billion. Other shareholders in the team include Aramco and Adrian Newey: the British engineer, who joined Aston Martin on March 1st as a senior technical partner, also received shares in the team to supplement his compensation.

With Reuters

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