Recently, Zhejiang Geely Holding Group Co., Ltd. (hereinafter referred to as “Geely Holding”) announced that it has further reached a new cooperation agreement with Aston Martin Lagonda International Holdings (hereinafter referred to as “Aston Martin”). As part of the cooperation content, Geely Holdings has completed the increase in Aston Martin’s shares. After the increase, Geely Holdings will hold about 17% of the shares.
According to Aston Martin’s announcement on the London Stock Exchange, Geely Holdings will become the third largest shareholder of the legendary ultra-luxury performance brand. After this shareholding increase, Geely Holdings will have the right to appoint a non-executive director to join the Aston Martin board of directors, and will also have an observer seat on the board of directors.
Li Shufu, chairman of Geely Holding Group, said: “Increasing our stake in Aston Martin reflects our confidence in its growth prospects, technical strength and management team. Since we first acquired a minority stake in Aston Martin last September, we have been working candidly with Executive Chairman Mr. Lawrence Stoll and his team to explore technological synergies and new growth opportunities, the two parties will strengthen their cooperation to fully realize the outstanding potential of this legendary ultra-luxury performance brand and help it achieve long-term sustainable growth .”
