This translation has been automatically generated and has not been verified for accuracy.A consortium that includes Canadian billionaires Lance Stroll and André Desmarais is buying a major stake in struggling British carmaker Aston Martin Lagonda Ltd. whose best customer is James Bond.
Mr. Stroll is leading the consortium and he will become the 106-year old company’s executive chairman. Under the deal, he is also injecting £55.5-million in short-term funding to immediately stabilise the company’s finances. The money will be refunded as soon as the rest of the financing is in place.Mr. Stroll built his fortune in the fashion world and has become a avid Forumla One fan.
Other members of the consortium include Mr. Desmarais, the former chief executive of Power Corp.; John McCaw, former part owner of McCaw Cellular; and Mr. Stroll’s long-time business partner Silas Chou, a Hong Kong-based investor. Aston Martin has struggled since going public on the London Stock Exchange in 2018 at £19 a share. The stock price has sunk to £4 lately although it jumped to £4.73 pence on Friday after the announcement.
globebusiness My prediction.....after another disappointing season in F1 Lance will be in an Aston at LeMans in 2021
globebusiness Apparently my $11.42(CAD) was turned down
globebusiness you mean Lawrence
globebusiness We'll miss you, racing point :(