Aston Martin outlines £653m investment plan

already exist) and the first all-electric Aston is set for 2025. All while de-leveraging that balance sheet - or dealing with debt, as you and I might know it, which is approaching £1bn. Up to half the investment may go on that, in fact. Aston’s projections signal £335m of the money coming from Mercedes, the Yew Tree Consortium and the PIF. There’s also an “underwritten rights issue” in the plan to raise approximately £575m.

The Saudi funding is arguably of most interest, because it means the PIF is set to become a 16.7 per cent stakeholder in Aston with two non-executive director seats on the board as well. The reshuffle will see Yew Tree’s share set at 18.3 per cent, and Mercedes’ at 9.7 per cent. An agreement with JP Morgan and Barclays sees them “underwrite on a standby basis the Rights Issue up to £318m”, which doesn’t include the shares that’ll be taken up by Merc, Yew Tree and the PIF.

SupercarOwner given the current share price, any substantial offering is going to be extremely dilutive!

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Valley investment firm plans Arizona's first cricket stadium in the West ValleyThe Phoenix metro could soon be home to the one of the largest cricket stadiums in the country as the sport continues rising in popularity across the U.S. Who loves cricket? Anybody? Yeah, let’s waste more water on that nonsense. WTF are these people thinking? A single driveway for a couple thousand parking spaces? Seems well thought out. /s
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