Aston Martin's Biggest Investor Considers Acquiring Another 3% Stake

Strategic European Investment Group, a part of the Italian private equity group Investindustrial, already owns 31% of Aston Martin and now wants to buy additional 3 per cent.

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The investor is offering to pay 10 pounds per share, the price at which the shares closed on Friday

The biggest investor in Aston Martin is considering buying another 3% stake, offering to increase its holding after shares in the luxury carmaker crashed almost 50% since its listing nine months ago.

Strategic European Investment Group, part of the Italian private equity group Investindustrial, owns 31% of Aston Martin. It only wants to buy a maximum 3% stake but has to make an offer to all shareholders due to its already large holding.

Aston Martin

Aston Martin Cars

It has secured agreements from existing shareholders such as a group of Kuwait-based investors to back the move.

It is offering to pay 10 pounds ($12.68) per share, the price at which the shares closed on Friday. It must make a decision by July 29.

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Aston Martin has struggled since it listed in October last year. Its shares fell on the opening day and are now down 47 percent. The company's recent results have been hit by a need to invest more in its manufacturing plants and expand its vehicle offering, leading to higher costs.



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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