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Lawrence Stroll-Led Group Raises Stake in Aston Martin to 26%

2023-09-29 15:24
Aston Martin Lagonda Global Holdings Plc said Executive Chairman Lawrence Stroll’s Yew Tree Consortium agreed to boost its
Lawrence Stroll-Led Group Raises Stake in Aston Martin to 26%

Aston Martin Lagonda Global Holdings Plc said Executive Chairman Lawrence Stroll’s Yew Tree Consortium agreed to boost its stake in the carmaker to 26.2%.

Certain members of Yew Tree are buying an additional 26 million shares in the carmaker, after the group’s initial investment, according to a statement.

The manufacturer has been working to return to profit in a turnaround effort that’s resulted in multiple capital raises. Aston Martin reported second-quarter earnings that beat analyst expectations, but left its full-year guidance unchanged.

Yew Tree sold some of its stake to Chinese conglomerate Geely Automobile Holdings Ltd. earlier this year, then participated in a capital raising this summer.