Monday, 20 January, 2020


Aston Martin investment talks gather pace

Aston Martin DBX Launching the DBX has put pressure on Aston Martin's balance sheet Credit Max Earey
Conrad Doyle | 14 January, 2020, 11:27

China's Geely Automobile Holding 0175.HK is in talks with Aston Martin management and investors about taking a stake in the luxury carmaker, according to a source close to the discussions and a report by the Financial Times, sparking a sharp jump in the British company's share price. Its share price rose 15% on Friday after the FT broke news of the talks.

"We also remain in discussions with potential strategic investors, which may or may not involve an equity investment into the company", he said.

"Bloomberg" are reporting that Stroll - who has amassed a fortune in excess of £2billion - is in 'advanced discussions with Aston Martin.

It is unclear whether Geely will pursue an Aston investment if Mr. Stroll makes an investment first.

Mr. Stroll uses Mercedes engines in his Formula 1 racing team, Racing Point.

In 2019, the Aston Martin Lagonda Global Holdings reported adjusted earnings of 130 to 140 million pounds sterling as opposed to 247 million in the previous year. Additional reports are also suggesting that Contemporary Amprex Technology, a Chinese battery maker, might be interested, though there's been no word from them yet either.

Geely sells an array of cars under its Lotus, PROTON and Volvo brands. Currently, the manufacturer hopes to debut in the history of the company crossover Aston Martin DBX.

A spokesman for Geely Europe declined to comment.

A spokesman for Aston declined to comment on whether the company is in talks with Geely, and reiterated a statement from Tuesday.

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