Aston Martin: stock soars 25% with new shareholder

(CercleFinance.com) - The Aston Martin stock is soaring 25% on the London Stock Exchange on Friday morning.


Bloomberg says that the group is set to sell a minority stake in its capital to Lawrence Stroll. This acquisition had already been talked about for several weeks.

The group appears to have already agreed to sell this stake to billionaire Lawrence Stroll, Bloomberg said.

Aston Martin Lagonda secured funding of 500 million pounds (656 million dollars) to balance its books and help build a new sport utility vehicle, it added.

Aston Martin, which reported an increased fall in sales in Q3 (-16%), last Novemberannounced the commercial launch of its first "sport utility vehicle" (SUV), a sort of "light 4x4".

Called DBX, this five-seater model is manufactured at the Welsh Saint Athan factory, and is fitted with a V8 engine. The first deliveries are expected in the second quarter of 2020.


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