Aston Martin Raises 650M As Saudi Arabia Becomes Its 2Nd Biggest Shareholder
The automaker is attempting to raise £650 million ($770 million) and has secured Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund, as a key shareholder—the second largest shareholder, in fact, after Yew Tree, the consortium led by fashion mogul Lawrence Stroll, father of Aston Martin Formula One driver Lance Stroll. The Saudi Public Investment Fund (PIF), led by Crown Prince Mohammed bin Salman, will purchase £78 million in shares and participate in a £575 million ($681 million) rights offering....