The development comes after Aston Martin had earlier rejected a GBP 1.3 billion investment package from Atlas Consortium. Interestingly, Atlas Consortium was also led by Geely and owner of Morgan Motor Cars, InvestIndustrial. The investment package was rejected over concerns of heavy dilution of existing shareholders.
However with its newly acquired 7.6 percent stake in Aston Martin, Geely has joined the ranks with other shareholders of the company such as Public Investment Fund, Yew Tree and Mercedes-Benz. Saudi Arabia’s Public Investment Fund has shelled out GBP 78 million for a 16.7 percent stake in Aston Martin. Stroll’s Yew Tree retains its 19 percent stake and Mercedes-Benz has invested further in the latest funding round to retain its 9.7 percent stake. Unfortunately, it has not been confirmed how much Geely paid for its 7.6 percent stake in the company yet.
The latest funding round of GBP 654 million was announced in mid-July 2022. Aston Martin intended to lower its debt and solidify its future plans with the move. Up till June 2022, the company had posted debts of up to GBP 1.2 billion. Stroll, Mercedes-Benz and PIF cumulatively raised GBP 335 million of the 654 million round. Aston Martin plans to use this capital to achieve a 10,000 wholesales mark with GBP 2 billion in revenue and GBP 500 million adjusted EBITDA by 2025.