Aston Martin Lagonda Global Holdings Plc said Executive Chairman Lawrence Stroll’s Yew Tree Consortium agreed to boost its stake in the carmaker to 26.2%.
Certain members of Yew Tree are buying an additional 26 million shares in the carmaker, after the group’s initial investment, according to a statement.
The manufacturer has been working to return to profit in a turnaround effort that’s resulted in multiple capital raises. Aston Martin reported second-quarter earnings that beat analyst expectations, but left its full-year guidance unchanged.
Yew Tree sold some of its stake to Chinese conglomerate Geely Automobile Holdings Ltd. earlier this year, then participated in a capital raising this summer.
