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2020-06-02

The major shareholder of Aston Martin cuts stake in UK automaker

Image:-Aston Martin

A leading shareholder in Aston Martin reduced its stake in the car manufacturer by almost 5 percent, with a regulatory filing on Monday.

Investindustrial Advisors Ltd, a private equity firm of Italy, disclosed its stake in Aston Martin at 14.99percent on May 29, compared with 19.92 percent of its previous stake. The reason the fund cut its stake was not immediately clear.

According to the data from Refinitiv Eikon, Investindustrial is the second largest shareholder of the company, following Canadian billionaire Lawrence Stroll.

After almost a third of sales fell by the impact of the novel coronavirus outbreak, the 107-year-old luxury carmaker posted a profound loss in May.

In response to the requests for comments, Aston Martin and PE did not immediately answer.

Article Edited by | VaibhavB |

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