By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Chinese automaker Geely snaps up 7.6% stake in Aston Martin
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > General > Chinese automaker Geely snaps up 7.6% stake in Aston Martin
General

Chinese automaker Geely snaps up 7.6% stake in Aston Martin

admin Published September 30, 2022
Last updated: 2022/09/30 at 9:29 PM
Share
SHARE

[ad_1]

Geely Holding Group acquired a 7.6% share of British luxury automaker Aston Martin Lagonda Global Holdings, helping cement the Chinese company’s stake in luxury and European brands.

Geely will not get a board seat in the deal, but that hasn’t seemed to matter in its past dealings. Geely, which owns Lotus and its the largest shareholder of Polestar and Volvo Cars, took a 10% stake valued at $9 billion in Mercedes-Benz parent Daimler in 2018. Geely didn’t have a board seat either, but managed to exert its influence over the company, including a joint venture with the German automaker that gave it partial control of the Smart car brand.

Geely Holding Group CEO Daniel Donghui Li said in a statement that the company’s well-established track record and technology offerings will be able to contribute to Aston Martin’s future success.

Aston Martin or Geely did not provide a value of the transaction.

Aston Martin also announced that it raised $732 million from investors that included Mercedes-Benz and Saudi’s Public Investment Fund participating. Yew Tree Consortium holds 19% of Aston Martin following the raise. The Public Investment Fund has become a new anchor shareholder with a 18.7% stake in the company.

“I am delighted that we have successfully completed this transformational capital raise which significantly strengthens our financial position and enhances our pathway to becoming sustainably free cash flow positive,” executive chairman Lawrence Stroll said in a statement. “Along with Amedeo and the leadership team, we are fully focused on unlocking the significant shareholder value creation potential of this ultra-luxury British performance brand.”

[ad_2]

You Might Also Like

Revyze is building the TikTok of educational videos

YouTube ends the test asking users to get a premium subscription to watch 4K videos

Who is going to buy Cadillac’s $300,000 hand-built EV?

Don’t let today’s software rally improve your mood

Daily Crunch: Kanye West reaches agreement to acquire social media platform Parler

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 30, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article YouTube TV users can now subscribe to standalone networks without a base plan
Next Article After a series of misfires in Q3, here’s what we expect for startups in Q4

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

Revyze is building the TikTok of educational videos

6 Min Read

YouTube ends the test asking users to get a premium subscription to watch 4K videos

2 Min Read

Who is going to buy Cadillac’s $300,000 hand-built EV?

4 Min Read

Don’t let today’s software rally improve your mood

1 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?