Canadian billionaire Lawrence Stroll has reportedly tightened his grip on luxury car maker Aston Martin, leading a £30m investment in the shares.
According to The Telegraph, Stroll’s investment vehicle, Yew Tree, now owns 23.3% of the company, after he added a 4.25% stake. Other investors include Saudi Arabia’s Public Investment Fund with 16.7% and Chinese car maker Geely with 7.6%.
Stroll and co-investors including JCB’s Lord Anthony Bamford and biotech billionaire Ernesto Bertarelli bought in because the shares are cheap, he said.
The move comes after Geely failed over the summer to take control of AML by offering a huge capital injection.
