Aston Martin’s billionaire executive chairman is ploughing more than £50million into the car maker.
Lawrence Stroll’s Yew Tree Consortium will invest £52.5million to take his shareholding to 33 per cent.
Aston Martin will also sell its minority stake in the Aston Martin Aramco Formula One team as part of efforts to boost finances.
Stroll, 65, is the majority owner of the Aston Martin Aramco F1 team, where his son Lance is a driver. Aston Martin said the deals are expected to improve the group’s liquidity by more than £125million.
The London-listed company – whose shares gained 7.1 per cent yesterday – said it expects to secure about £74million from the sale of its stake in F1. Its long-term sponsorship deal will not be affected.
Chief executive Adrian Hallmark said: ‘This renewed support from Lawrence and his Yew Tree Consortium partners underlines their immense confidence in our team and the future of the company.’
Cash call: Lawrence Stroll (pictured with former James Bond actor Daniel Craig) is the majority owner of the Aston Martin Aramco F1 team
DIY INVESTING PLATFORMS
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.