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Aston Martin's biggest investor offers to buy another 3% stake

The biggest investor in Aston Martin offered on Friday to buy another 3% stake in the luxury carmaker, whose shares have slumped since listing last year.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

The biggest investor in Aston Martin offered on Friday to buy another 3% stake in the luxury carmaker, whose shares have slumped since listing last year.

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

It confirmed it is offering to pay 10 pounds ($12.53) per share.

Aston Martin has struggled since it listed in October last year. Its shares, down 21% so far this year, closed Thursday at 963 pence, valuing the business at 2.18 billion pounds.

Aston Martin Lagonda

Sell: 425.00 | Buy: 429.60 negative 5.00 (-1.15%)
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Prices delayed by at least 15 minutes.

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.

($1 = 0.7980 pounds) (Reporting by James Davey; Editing by Jan Harvey)


Copyright (2019) Thomson Reuters. This article was from Reuters and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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