São Paulo – Saudi Arabia’s Public Investment Fund (PIF) has raised its stake in luxury carmaker Astor Martin to 20.5% from 17.9%, a bourse filing at the London Stock Exchange showed.
Saudi newspaper Arab News reported in its website that, with a 2.6% increase in is holdings, the Saudis now holds a greater of share in the UK firm than fellow stakeholders Geely and Chinese entrepreneur Shufu Li. Aston Martin chair Lawrence Stroll remains the top shareholder at the carmaker.
According to the bourse filing, the new shares were awarded to PIF-backed Lucid Group. In June, US electric car manufacturer Lucid and Aston Martin had agreed to establish a long-term strategic technology partnership.
Aston Martin was made famous for being fictional spy James Bond’s car brand of choice. Pictured, an Aston Martin DB5 stunt car from the film No Time to Die is displayed during a photocall ahead of the “Sixty Years of James Bond” auction at Christie’s auction house in London in 2022.
Translated by Guilherme Miranda
