Aston Martin's £654m fund raise is now complete, with a little help from China...
Aston Martin announced a plan to raise £653m to help with model development and deal with some debt. Or ‘meaningfully deleverage its balance sheet’, in finance talk. Encouragingly, the equity capital raise has already been successful, less than three months after it was announced.
Geely’s role in proceedings is reserved for the last line of the press release. “Finally, I would like to welcome Geely Holding, who today have announced that they have become a shareholder”, said Lawrence Stroll. And that’s really it. For reference, the capital raise plan is going to see the Public Investment Fund become an 18.7 per cent stakeholder, with Stroll’s Yew Tree Consortium taking 19 per cent; the original plan was for Mercedes to have 9.
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