Investindustrial and Tejara Capital (the new name of Kuwait’s investment company Investment Dar) announced yesterday a 200 million pounds capital increase in British luxury carmaker Aston Martin Lagonda (see here the press release).
The two funds were already the majority shareholders in Aston Martin, respectively with a 37.5% and a 56% stake, with the remaining stakes owned by the top management and by German automotive maker Daimler (about 5% of the capital, as for enforcing a commercial agreement signed in December 2013).
The additional capital investment comes in the form of 200 million pounds of preference shares; 100 millions of which were issued on 29 April 2015 with the remaining 100 millions, already subscribed for, to be issued in the next twelve months, and will further expand the previously announced investment plan. Under the plan, the company will expand into the luxury GT crossover market with the introduction of a new vehicle based on the DBX concept shown at the recent Geneva and Shanghai motor shows.
Investindustrial bought out its 37.5% stake in the British carmaker back in December 2012 and bought an option to increase its stake to 50% in 5 years investing a maximum of 80 million pounds more.
Aston Martin Lagonda’s ceo Andy Palmer said that “This additional long-term funding, will enable us to add extra model lines and broaden our presence in the luxury market segment by the end of the decade. The DBX concept, has generated interest far beyond our expectations. The additional investment announced today will allow us to realise the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history”.
Aston Martin Holdings (UK) Limited today announces results for the 12 months ended 31 December 2014. In 2014 the company delivered full year revenues of 468 million pounds and adjusted ebitda of 66 millions whilst simultaneously increasing its product development spend by 45%.
