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!
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: abc15 - 🏆 263. / 63 Read more »