The carmaker Mercedes-Benz from the Daimler Group will gradually increase its share in the British luxury car manufacturer Aston Martin to 20 percent by 2023.
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It will thus become one of the largest shareholders of the ailing British carmaker, Reuters reported.
Aston Martin was founded more than 100 years ago and its cars are made famous, among others, by the fictitious secret agent James Bond. However, since entering the stock exchange two years ago, it has been experiencing difficult times, and this year its shares have lost two thirds of their value. In May this year, Tobias Moers, the former head of the AMG brand from the Mercedes-Benz group, became the company’s new boss.
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Mercedes-Benz currently owns 2.6 percent of the British carmaker. Its increase is to take place in several phases as part of a wider subscription of new shares. The value of shares for the German group should be a maximum of 286 million pounds (8.6 billion CZK), said Aston Martin.
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The increase in the share also includes an agreement on deepening strategic cooperation. Aston Martin will thus gain connections to important Mercedes technologies, including technologies for electric and hybrid cars. The two carmakers have been cooperating since 2013, when Mercedes acquired a stake in Aston Martin.
Aston Martin fell to a loss of £ 29 million in the third quarter, compared to last year’s profit of £ 43 million. Revenues fell by almost half to £ 124 million.
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