Video: Father Bought Shares In Aston Martin To Give His Son's Formula 1 Team The Title
The Yew Tree Overseas Limited consortium, led by Canadian billionaire Lawrence Stroll, the father of Formula 1 driver Lance Stroll, has bought a 16.7 percent stake in Aston Martin Lagonda. The securities cost £ 182 million. Further investment by the consortium in the British brand will amount to £ 318 million.
- As part of the new agreement, Aston Martin will end its partnership with the Red Bull Formula 1 team at the end of the 2020 season. From 2021, under the name Aston Martin, the Racing Point team, represented by Lance, will start performing in Formula 1. This team is also owned by Lawrence Stroll.
- The investment from Yew Tree Overseas Limited will go towards production of the brand's first crossover and mid-engined supercar lineup. At the same time, the restart of the Lagonda brand, under which it is planned to produce luxury electric cars, has been postponed until 2025.
Lawrence Stroll will serve on the board of directors of Aston Martin Lagond as executive chairman. Together with the share, the consortium received the right to appoint another member of the board of directors.
The largest shareholder of Aston Martin is the Italian investment fund Investindustrial Advisors - it owns 38.8 percent of the shares. Large shares belong to the member of the board of the brand - Kuwaiti businessman Najib Al-Humaidhi (10.7 percent) and the American company Invesco Advisers (9.18 percent). German concern Daimler, which supplies engines and other components to the sports car manufacturer, owns four percent of the shares.