Aston Martin Surges After China’s Geely to Double Stake
- Transaction to unlock £95 million for UK sportscar maker
- Geely to get right to appoint director on Aston Martin board
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Aston Martin Lagonda Global Holdings Plc’s shares surged after it said China’s Geely Automobile Holdings Ltd will double its stake and become the UK sportscar maker’s third biggest shareholder.
The transaction will unlock £95 million ($118 million) for the British sportscar maker, whose shares rose as much as 25% in early London trading, and were trading 13% higher at 10:45 a.m. in London.