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The Canadian billionaire behind Tommy Hilfiger and Michael Kors may buy Aston Martin - Business Insider

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The Canadian billionaire behind Tommy Hilfiger and Michael Kors may buy Aston Martin

FILE PHOTO: A James Bond 1965 Aston Martin DB5 coupe is displayed at Sotheby's auction house in New York, U.S.The carmaker's shares were up nearly 17% at £5.88 at 14:14 GMT, valuing the business at about £1.3 billion , but still far below its initial public offering price of £19.

Stroll, who is the father of Formula One driver Lance Stroll, is heading up a consortium looking to take a "major shareholding" in the British company, Autocar and the racefans.net website reported on Thursday. But the sale of a stake could help boost the company's prospects as it seeks to turn around a poor performance, which pushed it to a £92.3 million loss in the first nine months of the year.In August, Aston's biggest investor, Strategic European Investment Group, acquired an additional 3% stake in the company.

Aston is also the title sponsor of the Honda-powered Red Bull team, former world champions who won three races this year with Dutch 22-year-old Max Verstappen.

 

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