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Saudi wealth fund to become Aston Martin's second-largest shareholder

Aston Martin's shares jumped 20% on Friday after the British luxury carmaker announced an capital raising that will see Saudi Arabia's Public Investment Fund (PIF) become its second-largest shareholder with an almost 17% stake. PIF's 78 million pound investment, together with a 575 million pound rights issue, will allow the 109-year-old company lower its debt and invest in new models. PIF will own a 16.7% stake in Aston Martin and will be entitled to two board seats, behind the 18.3% holding Chairman Lawrence Stroll's Yew Tree will have after the rights issue. The sovereign wealth fund, which owns stakes in electric carmaker Lucid Motors and British supercar group McLaren has been diversifying its oil-rich investment portfolio. For Aston Martin, the preferred ride of fictional secret agent James Bond which has gone bankrupt seven times in its history, the investment means it can secure its long-term future. Its current second-largest shareholder, German carmaker Mercedes-Benz AG will own about 9.7% after the capital raising. Debt-Ridden Inheritance "In 2020, I inherited a business in deep trouble that needed to be reset," Stroll told reporters. COVID-19 lockdowns and the disruption to global supply chains has slowed the company's recovery, he added. Half of the new capital will be used to repay debt that stood at 957 million pounds at the end of March. The company also pushed back the date at which it will start producing cash from 2023 to 2024. The carmaker said former owner Italian investment group Investindustrial and China's Geely had proposed up to 1.3 billion pounds in funds last week, which the board rejected. The pair would have injected 203 million pounds for a stake, making them the largest shareholder. Stroll said the proposal would have been highly dilutive to shareholders and believed it was a takeover offer in disguise. ($1 = 0.8446 pounds) (Reporting by Eva Mathews in Bengaluru; Editing by Arun Koyyur, Tomasz Janowski and Louise Heavens) Earnings/Financials Aston Martin

Aston Martin creates custom Vanquish series in smooth carbon

In a demonstration of just how extensively it can cater its vehicles to the customer's specific tastes, Aston Martin has done up a special series of Vanquishes at the request of an individual customer. Carried out through the Q by Aston Martin customization service, the Vanquish "One of Seven" edition is distinguished by its unique carbon-fiber bodywork. The order required Aston to develop a new manufacturing process to weave the fibers in multiple layers for a perfectly smooth finish. The resulting exposed carbon bodywork is complimented by satin black trim, custom diamond-quilted seats, and machined carbon logos, for a complete Darth Vader, murdered-out look. As the name suggests, only seven examples will be made, with the first delivered to one Markus Storck, head of high-end bicycle manufacturer Storck Bikes. The remaining examples will be delivered to "six fellow sports car aficionados." Related Video: Q BY ASTON MARTIN CREATES A UNIQUE VANQUISH COLLECTION - Seven bespoke sports cars commissioned by collector - Carbon fibre-themed personalisation pushes manufacturing boundaries - Painstaking process to design, engineer and build the luxury models 1 June, 2015, Gaydon: The Q by Aston Martin bespoke personalisation service is celebrating the fulfilment of a longstanding ambition for sports car enthusiast and businessman Markus Storck. Dr Matthew Bennett, General Manager of VIP sales and Q by Aston Martin personalisation service, delivered the first of seven uniquely built Vanquish Coupes to the German collector at an event held at the luxury marque's headquarters in Gaydon. Mr Storck, founder and head of German hi-tech bicycle manufacturer Storck Bikes, commissioned the Q by Aston Martin team to develop the special 'One of Seven' Vanquish sports cars for himself, and six fellow sports car aficionados. Boasting a broad array of bespoke features including an exclusive exterior finish that sees multiple layers of carbon fibre cleverly interwoven to a perfectly smooth finish – a result that required Aston Martin to develop an entirely new addition to its manufacturing process – the seven Vanquish are sure to become collectors' items in years to come. Matthew Bennett said: "The process of creating these sports cars has been typical of what Q by Aston Martin can deliver.

Aston Martin DB11 fully exposed before Geneva debut

You're forgiven if you don't remember much about Daniel Craig's last adventure as James Bond 007 in Spectre. The movie was largely forgettable, but the Aston Martin DB10 built for the film was nice to look at, until it took a swim in the Tiber. Since the DB10 was never intended for production, the DB11 is on its way as a DB9 replacement. We've been seeing camouflaged DB11 prototypes running around Europe for a while now. And now, thanks to a photographer taking a picture when he or she wasn't supposed to, and posting that image to Twitter, we can show you what the front of the upcoming DB11 looks like well ahead of its probable Geneva Motor Show debut. Twitter user @Rudybenjamin13 posted the photo you see below earlier today, although with the caveat that the account was just sharing the photo and didn't take it. Whether that's the case is neither here nor there. On me dit que je risque d'etre emmerde donc tant qu'a faire ... #astonmartin #DB11 . Je relaie .... pic.twitter.com/Xle3BkjJF9 — RudyB001 (@Rudybenjamin13) February 17, 2016 It's a much more traditional front fascia than the DB10's concept-car aesthetic. Bigger, road-legal headlights and a more traditional Aston grille bookend an incredibly sculpted hood. Where the DB10 was shark-nosed and aggressive, the DB11 looks traditional and profoundly powerful. It will fit right into the lineup, which can't quite be said for the DB10, whatever you think of it. From this angle, it's both expected and satisfying. We can't wait to see it in the flesh, hopefully in Geneva. Related Video: Spy Photos Aston Martin aston martin db9 aston martin db11 spectre aston martin db10