Chinese language automotive firm Zhejiang Geely Holding Group stated on Friday it purchased a 7.6% stake in British luxurious carmaker Aston Martin, however didn’t disclose the deal worth.
Based mostly on Aston Martin’s closing share worth on Sept. 28, the stake is valued at 7.55 billion kilos ($8.39 billion).
It was purchased by Li Shufu, founder and chairman of Zhejiang Geely, Aston Martin stated in a regulatory submitting, making the Chinese language agency one of many high shareholders within the British carmaker, based on Refinitiv Eikon.
“We sit up for exploring potential alternatives to have interaction and collaborate with Aston Martin because it continues to execute its technique to attain long run, sustainable development and elevated profitability,” Daniel Donghui Li, Zhejiang Geely’s chief government officer stated.
Aston Martin additionally individually introduced the completion of 654 million kilos capital elevate.
($1 = 0.8994 kilos)
(Reporting by Jaskiran Singh in Bengaluru; Modifying by Anil D’Silva and Arun Koyyur)
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