Chinese carmaker Geely takes 8% stake in Aston Martin - Financial Times
Geely has taken a stake of almost 8 per cent in Aston Martin, building a holding in the luxury carmaker long sought by the Chinese auto group. The company, which owns carmakers including Lotus and Volvo, bought into Aston during the recent £654mn rights issue, and will now try to collaborate with the UK group on some technologies. The stakebuilding comes after several rebuffed attempts by Geely to buy into Aston in recent years, most recently over the summer. The Chinese group has long been seen in the market as a potential acquirer of the company, should chair Lawrence Stroll wish to sell. On Friday, Stroll issued a statement concluding the fundraising, and welcoming Saudi Arabia’s Public Investment Fund, which he described as “one of the leading global investment funds”, into the business as an “anchor shareholder”. At the end of his statement, Stroll said he also “would like to welcome Geely Holding, who have today announced that they have become a shareholder”. The company doe