European investment firm Investindustrial has completed the purchase of a stake in Aston Martin, resulting in a $277 million boost for the car maker towards the development of new products.
Aston Martin confirmed the completion of the £150 million partnership that sees Investindustrial claim a 37.5 per cent stake in the sports car manufacturer, saying the increase in capital underpins a new product development program worth more than half a billion pounds over the next five years. Investindustrial now joins other major Aston Martin shareholders The Investment Dar and Adeem Investment.
The British marque says production will remain at the luxury brand’s global headquarters at Gaydon in Warwickshire, where three production lines are responsible for the manufacturing of the current range including the Aston Martin Rapide S and Vanquish.
In December last year Investindustrial agreed to buy a stake in Aston Martin Lagonda Ltd, securing the deal ahead of Indian automotive car maker Mahindra & Mahindra.
The news of the partnership’s completion comes on the back of suggestions that Aston Martin’s CEO, Ulrich Bez, could be about to shift roles at the end of the year, moving into an ambassadorial position within the company. The 69-year-old has been Aston Martin’s chairman and CEO since July 2000, and along with being a keen racing driver, is also credited with being at the heart of the DB7’s success.
Earlier this week Aston Martin made history with its Rapide S Hybrid Hydrogen racecar (pictured above) registering the world’s first hydrogen-fuelled zero CO2 emission lap of the 24km Nurburgring Nordschleife circuit in Germany.