Chinese Geely Holding continues its expansion to the West - the company officially announced that it will enter the capital of the British Aston Martin Lagonda (AML), a manufacturer of super-luxury sports cars (Aston Martin is known to the general public as the "James Bond car").
Geely has reached an agreement to buy a 7.6% stake in AML for an undisclosed amount. Thus, the Chinese company will become one of the minority shareholders of the British automaker, the others are the Public Investment Fund of Saudi Arabia (it owns 16.7% of Aston Martin), Mercedes-Benz (9.7%), the Yew Tree consortium (18.3%) . The bulk of AML shares are still in the hands of "institutional investors".
Motor1 notes that Geely has been negotiating with Aston Martin for a long time - at the beginning of the year it was even reported that they were terminated. But in the end, the British succumbed to the proposals of the Chinese.
Geely is China's most successful privately owned automaker, controlled by entrepreneur Li Shufu. Geely now includes Swedish Volvo Cars (cars), British Lotus (sports cars) and London Electric Vehicle Company (cabs), Malaysian Proton (cars), French Smart (city cars), Swedish-Chinese Polestar (sports cars) and Link & Co (cars). Geely also controls the American startup Terrafugia (flying cars), Chinese Hanma Technology (trucks) and Shanghai Maple (cars). In addition, the concern is a minority shareholder of the Swedish manufacturer of trucks and special equipment AB Volvo, and also participates in the capital of the Korean division of Renault. Recall that Li Shufu personally owns 9.7% of the shares of the German Mercedes-Benz through the Tenaciou3 Prospect Investment Limited fund.
Chinese Geely decided to buy a stake in Aston Martin
