Lawrence Stroll to increase Aston Martin shareholding
Lawrence Stroll plans to raise stake in Aston Martin
Lawrence Stroll will increase his shareholding in the Aston Martin Formula 1 team.
Stroll plans to raise his stake by £52.5m, City AM reported.
His Yew Tree Consortium is attempting to acquire 75m shares of the company at a 7% premium, the report also states.
A statement from Aston Martin F1 to media including Crash.net confirmed: “Today’s news underscores our Executive Chairman Lawrence Stroll’s long-term and unwavering commitment to both Aston Martin and the current Formula One Team.
“A long-term contract is now in place to ensure the Aston Martin name remains at the pinnacle of motorsport for decades to come.
“The proposed transactions, which will see Aston Martin Lagonda (AML) sell its stake in the Aston Martin Aramco Formula One Team (AMF1), will result in Mr Stroll increasing his shareholding in AML to 33% while strengthening the company's balance sheet by over £125m.
“Mr Stroll has commissioned the investment bank Raine Group to help find a buyer for AML’s stake in the Formula One team.
“Raine will work closely with AMF1’s commercial chief Jeff Slack to secure a strategic investor who can add long-term value to the team and the brand.”
Mr Stroll said: “These moves demonstrate that Aston Martin’s place on the Formula One grid is as secure as ever.
“AML recently re-committed to its long-term sponsorship and licensing agreement with AMF1, confirming that the legendary Aston Martin brand and its British racing green colours will compete in Formula One for decades to come.”
City AM’s initial report noted that, according to UK Takeover Code, anyone who acquires more than 30% of a company is mandated to offer to buy the rest.
Stroll first took over a major share in the company in 2021, then increased it two years later.
He intends to turn Aston Martin into a front-running team capable of winning F1 titles.
The signing of Adrian Newey as managing technical partner gives them the top car designer in F1, ahead of the 2026 regulations change.
Fernando Alonso and Lance Stroll are contracted as the driver duo into next year.
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