Aston Martin may get bid from Canadian billionaire: Report
Lawrence Stroll may bid to buy a major stake in the company while its stock value is low.
Canadian billionaire and Formula One team Racing Point owner Lawrence Stroll reportedly may bid to buy a major stake in luxury sports car manufacturer Aston Martin.
Stroll, an investor and car collector with what some believe to be the most valuable collection of classic Ferraris in the world, could lead a consortium to purchase a stake in the company while its stock value is low, according to a joint report from Autocar magazine and RaceFans.net.
Aston Martin's current majority stakeholder, Strategic European Investment Group, holds about a third of the company.
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The luxury carmaker, which has had its cars featured in several James Bond films -- including the latest "James Bond 007: No Time to Die," set to premiere in April 2020 -- issued a profit warning in 2018 as global demand for its products slowed. It reported losses of nearly $89 million in the first six months of 2019, the report notes.
Aston debuted its first SUV called the DBX on Nov. 20 in an effort to expand and increase sales; it raised $150 million through a bond sale to fund production of the vehicle.
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Ferrari, Bentley, Lamborghini, Maserati, Porsche and Rolls Royce have also recently launched new SUV models.