Aston Martin to Sell Stake to Formula One Billionaire

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Aston Martin Lagonda Global Holdings Plc secured a 500-million-pound ($656 million) lifeline to restore the balance sheet and help build a new sport-utility vehicle after agreeing to sell a stake to billionaire Lawrence Stroll.The shares posted their biggest gain ever on Friday after Aston Martin said a group led by Stroll will buy as much as 20% of the U.K. luxury carmaker as part of a rescue package.The Canadian investor will become executive chairman, according to a statement Friday. Bloomberg News reported …read more

Source:: Yahoo Finance

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