Billionaire Lawrence Stroll’s mega investment in Aston Martin has been approved by shareholders. Stroll and its consortium pumps converted over € 600 million into the British brand. As a result of this investment, Stroll will become Executive Chairman of Aston Martin next month.
Canadian billionaire Lawrence Stroll recently pulled out of his wallet for the ailing Aston Martin. The owner of F1 team Racing Point, among others, bought 16.7 percent (later even 25 percent) from Aston Martin and made an extra investment of more than £ 300 million. All in all, Stroll will convert approximately € 600 million to get the reins largely in the hands of Aston Martin. Stroll’s capital injection and the sale of Aston Martin’s major stake to Stroll have now been approved by other shareholders, Reuters reports.
Stroll (60) will take office as Executive Chairman of Aston Martin on April 20. CEO Andy Palmer remains in his place, but Stroll is now getting a particularly big finger in the pie. Thanks to his investment, Aston Martin should, among other things, be able to guarantee the production of the DBX and Stroll’s F1 team Racing Point will continue as Aston Martin F1 next year. Especially securing the production of the DBX is very important, because that car must again bring great capital to the struggling brand.