Despite recently saying the opposite, Aston Martin has now admitted that it is engaged in talks with potential investors.
In a statement issued to the London Stock Exchange, the British car manufacturer said that it is looking to build long term relationships with new investors. This comes shortly after it was reported that billionaire Lawrence Stroll was behind a consortium looking to buy a stake in Aston Martin.
“The Company confirms that is reviewing its funding requirements and various funding options,” Aston Martin’s statement reads. “It is also engaged in early stage discussions with potential strategic investors in relation to building longer-term relationships which may or may not involve an equity investment. A further announcement will be made as and when appropriate.”
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It has since been reported that car manufacturers and firms in the Middle East, India, and China are also interested in stakes in the company, Reuters reports.
Stroll is said to be considering purchasing a controlling stake in Aston Martin to take advantage of the marque’s low stock value before the company ramps up sales and deliveries thanks to the arrival of the DBX SUV. As it stands, the majority of Aston Martin’s shares are held by the Kuwait’s Adeem/Primewagon group. Italian private equity group Investindustrial also holds roughly a one-third holding in Aston Martin, while Daimler owns 4 per cent.
Aston Martin will commence production of the DBX next year and hopes to double its global sales thanks to the SUV.
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