Aston Martin owner Lawrence Stroll has reportedly increased his controlling stake in the Formula 1 team after Kuwaiti investors reduced their shareholding.
The Canadian billionaire first bought into Aston Martin Lagonda Global Holdings last year, keen to revamp both the brand s image and its car range. The consortium he led invested north of £180 million in return for a 16.7% stake in the company.
As part of the deal, Stroll s F1 team, Racing Point, rebranded to Aston Martin for the 2021 season.
And according to reports in the Arabian news, Stroll has now increased his stake further after Adeem/Primewagon reduced their shares to become a minority owner.
Stroll reportedly increases Aston Martin ownership PlanetF1 22/02/2021
Aston Martin shareholder Lawrence Stroll has strengthened his control of Aston Martin, according to reports.
The Canadian billionaire first bought into Aston Martin Lagonda Global Holdings last year, keen to revamp both the brand’s image and its car range. The consortium he led invested north of £180million in return for a 16.7% stake in the company.
As part of the deal, Stroll’s Formula 1 team Racing Point rebranded to Aston Martin for the 2021 season.
And according to reports in the Arabian news, Stroll has now increased his stake further after Adeem/Primewagon reduced their shares to become a minority owner.
Lawrence Stroll reportedly increases Aston Martin ownership planetf1.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from planetf1.com Daily Mail and Mail on Sunday newspapers.
Aston Martin s Stroll cements his grip as Kuwaiti group reduces stake
Bloomberg
Print
Billionaire Lawrence Stroll is solidifying his control of Aston Martin as Kuwaiti investors who used to be among the UK automaker s largest shareholder shrink their stake.
Amr Ali Abdallah Abou El Seoud, Adeem/Primewagon s representative director on Aston s board, stepped down from the position after the shareholder group s holding in the automaker fell below 7 percent, the company said in a filing Friday.
This is the second reshuffling of Aston’s board in less than a month three members stepped down in late January and were replaced by five new directors backed by Stroll, including ex-Ford global product chief Richard Parry-Jones and former McLaren CEO Antony Sheriff.
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