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Aston Martin Chair Stroll's Yew Tree ups stake in carmaker

Published 29/09/2023, 07:13
© Reuters. The Aston Martin logo is seen on a V12 Vantage car at the company’s factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil Noble/File photo
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(Reuters) -Aston Martin on Friday said Chairman Lawrence Stroll's Yew Tree Consortium had further increased its stake in the British luxury carmaker by 3.27% to 26.23%.

Yew Tree, which bought an additional 26 million ordinary shares of the company, was already its largest stakeholder, followed by Saudi Arabia's Public Investment Fund (PIF) and Chinese automotive firm Geely.

Fictional character James Bond's car brand of choice has had a tough time since floating in 2018. Stroll took over as chairman of the company in 2020.

The company has been more upbeat about its outlook more recently and plans to bolster cash and margins by rolling out next-generation sports cars and limited editions in the second half of 2023.

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