Formula 1
Formula 1
30 Apr
-
03 May
FP1 in
42 days
07 May
-
10 May
FP1 in
49 days
21 May
-
24 May
FP1 in
62 days
R
Azerbaijan GP
04 Jun
-
07 Jun
FP1 in
77 days
11 Jun
-
14 Jun
FP1 in
85 days
25 Jun
-
28 Jun
FP1 in
98 days
02 Jul
-
05 Jul
FP1 in
105 days
16 Jul
-
19 Jul
FP1 in
119 days
R
Hungarian GP
30 Jul
-
02 Aug
FP1 in
133 days
27 Aug
-
30 Aug
FP1 in
161 days
03 Sep
-
06 Sep
FP1 in
168 days
R
Singapore GP
17 Sep
-
20 Sep
FP1 in
182 days
24 Sep
-
27 Sep
FP1 in
189 days
R
United States GP
22 Oct
-
25 Oct
FP1 in
218 days
29 Oct
-
01 Nov
FP1 in
225 days
R
Brazilian GP
12 Nov
-
15 Nov
FP1 in
239 days
R
Abu Dhabi GP
26 Nov
-
29 Nov
FP1 in
252 days

Aston Martin poised for decision over £200m Stroll bid

shares
comments
Aston Martin poised for decision over £200m Stroll bid
By:
Jan 30, 2020, 8:35 PM

Racing Point Formula 1 team owner Lawrence Stroll could be announced as a major investor in Aston Martin as early as Friday, if his bid to buy a stake in the troubled sportscar marque is successful, according to a report in the Financial Times.

The billionaire Canadian businessman faces strong competition from Chinese motor manufacturer Geely, however, which is also keen to acquire a shareholding in the iconic British sportscar brand.

According to the FT the two rival bids are to be considered at board meeting on Thursday evening. Both interested parties are said to be willing to pay £200m for a 20% stake in the company, and would be able to pump some money in immediately while the details are finalised.

Aston Martin is in urgent need of extra funding. Its share price has fallen and profits have been squeezed since an initial public offering in October 2018, which was described by one analyst as “an abject failure”. It recently issued a profits warning, stating that its final 2019 numbers would be worse than had been anticipated.

Read Also:

The company confirmed that it “remains in discussions with potential strategic investors, which may or may not involve an equity investment into the company.”

The FT says that the decision on which investor to go with could be swayed by what else they can bring to the table.

Geely already owns or has significant stakes in car brands Lotus, Proton and Volvo, has an obvious interest in technical partnerships across its brands. Stroll has very strong motorsport and fashion business connections, with an Aston Martin link to his Racing Point team having been mooted some weeks ago.

Aston Martin is also currently title sponsor of the Red Bull Racing F1 team.

Related video

Next article
Vettel/Leclerc rivalry an "advantage" for Ferrari - Binotto

Previous article

Vettel/Leclerc rivalry an "advantage" for Ferrari - Binotto

Next article

Racing Point to be rebranded as Aston Martin after Stroll deal

Racing Point to be rebranded as Aston Martin after Stroll deal
Load comments

About this article

Series Formula 1
Author Adam Cooper