Stroll invests £52m in Aston Martin

(Sharecast News) - Luxury car maker Aston Martin on Monday said that chairman Lawrence Stroll's Yew Tree Consortium would plough another £52.5m into the company, lifting its stake to luxury carmaker and increase its stake to around 33%. It added that it would also offload its minority stake in the Aston Martin Aramco Formula One racing team, realising a premium to the current book value of about £74m.

"I am pleased to clearly demonstrate my unwavering support and commitment to Aston Martin. Since 2020, my Yew Tree Consortium partners and I have invested around £600m into the company," Stroll said in a statement.

"This proposed investment further underscores my conviction in this extraordinary brand, and commitment to ensuring Aston Martin has the strongest possible platform for creating long-term value while reducing equity dilution via this premium subscription, which should greatly reassure shareholders, as I again increase my long-term ownership in the company.

Reporting by Frank Prenesti for Sharecast.com