FILE PHOTO: Aston Martin Lagonda cars are parked outside the new factory at Saint Athan, Wales, Britain December 6, 2019. REUTERS/Rebecca Naden
LONDON (Reuters) – Canadian billionaire Lawrence Stroll will take a roughly 20% stake in Aston Martin (AML.L) for nearly 200 million pounds ($263 million) as the ailing carmaker raises funds to turn around a poor performance hit by weaker-than-expected sales.
The company will raise a total of 500 million pounds, including a rights issue from existing major shareholders.
Stroll will join the board as executive chairman, replacing Penny Hughes, who will step down, the company said.
Reporting by Costas Pitas; editing by James Davey
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