Geely has doubled its stake in Aston Martin to 17 per cent, growing the Chinese carmaker’s influence over a company that it has long sought to own.
The group spent ￡234mn increasing its holding, making it the third-largest shareholder after the consortium of investors led by Aston Martin chair Lawrence Stroll, and Saudi Arabia’s Public Investment Fund, and placing it ahead of Mercedes-Benz.
Geely bought 42mn shares from Stroll’s consortium, and was issued with 28mn new shares at 335p each, a substantial premium over the current share price of 231p.
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