Aston Martin has called for an emergency meeting with potential investors Geely and Lawrence Stroll, and the British luxury automaker is expected to announce its final decision within the next few days, according to a report by the Financial Times.
It’s understood that the offer on the table is around £200 million (RM1.07 billion) for a 20% stake in Aston Martin. So far, both Geely and Stroll have declined to comment on the matter. Aston Martin first went public in 2018, with a valuation of around £4.5 billion (RM24 billion). Today, its share price has fallen by around 80% from that point, mostly due to slowing sales and unexpectedly low profit levels.
As for the investors, both Geely and Stroll have quite the portfolio. Geely owns Lotus and Volvo, a part-owner of Smart and Proton, and a significant shareholder in Daimler. Its interest to invest in Aston Martin is said to be due to the potential of sharing parts with Lotus, while recent reports have tied Geely to a separate shareholding talks with the Mercedes F1 Team.
Lawrence Stroll, on the other hand, is a billionaire with a net worth in excess of £2 billion (RM10.7 billion). He is the father of F1 driver Lance Stroll and owner of Racing Point F1 Team, and has made his money by investing and building brands which include Pierre Cardin, Ralph Lauren, Tommy Hilfiger, and Asprey.
He is also known for his car collection, one which many regard as the most valuable collection of classic Ferraris in the world. His business interest and car collection reportedly gave him the contacts to head a consortium looking to take control of Aston Martin, with the belief that the DBX SUV will provide the firm with some much-needed recovery in the future. Approximately 1,800 orders for the DBX have been made, it’s been confirmed, but deliveries don’t begin until mid this year.
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Better to just sell the whole company to Geely and replace all the lazy UK abang2 with Mainlanders. 400 years of empire building now got sold out. England had colonised main parts of China but now getting colonised by China. I am ashamed they had once colonised us but now us Asians are colonising them. Well isn’t that what our troll keep saying?
But at least we colonised them without killing their people and imposing our mindset onto them.
If the top people at Aston Martin have sane mind, they won’t sell their company to Geely.
They would be insane because then they would be out of a job soon enough?
As long as not Geely
It’s obvious the enormous number and world no.1 ratio of civil servants is the biggest problem for Malaysia, eating up development budgets (86% of national budget goes to paying their salaries, subsidies and pensions) and slowing down businesses by interfering in every level, not Geely, be a man and admit it!!!
The Swedes in Volvo Cars don’t share your sentiments.
At least AM has their own cars, so tak ada malu to take investors money. As for Proton, we now use just Geely cars completely. X70 and X50 will be 89% of Proton’s total sales. Saga also half Malaysian and half Korean
That is malu. We have no cars of our own
Which half of Saga is Korean? The front or the rear? Even the blind can tell you either half don’t look alike.
He is talking about the new saga gearbox by Hyundai
If a gearbox constitutes half the car, so does that mean AM cars, with both engine & gearbox sourced from Mercedes, doesn’t belong to Britain at all? I think Brian below pointed that inconsistency of statement.
Its body design from LG studio ftw
But AM is using Merc-AMG engines and transmission. Based on your logic, AM cars are nearly 100% not belong to them right. So they are kemaluan terbesar for not having a car of their own yet taking money from investors and that was after all that government money poured into AM keeping them afloat as the last British owned carmaker. Such kemaluan terbesar UK right.
Well said. Spot on the truth
I am so ashamed of this colonised mentality person even when our colonisers are getting colonised.
Meanwhile the japs with Nissan go bankrupt, hahaha
It’s a recovery period for Proton. Let’s just be patience.
Funny that a Perodua troll talking about ‘own cars’. Tell me which car in Perodua entire history is Perodua’s ‘own car’ ? Kuman di seberang laut nampak, gajah di depan mata buat2 tak nampak.
He criticises both P1 and P2.
No he don’t. He is a blinded Jepunis and celup Jepunis fanboya.
Based on his logic, none of Perodua cars are belonging to Perodua. He is just ashamed to admit it.