10th Jan 2020 17:13
(Alliance News) - Geely Automobile Holding Ltd held talks with Aston Martin Lagonda Holdings PLC as the Chinese firm considers investing into the luxury carmaker, the Financial Times reported late Friday.
Shares in Aston Martin closed up 15% at 469.70 pence, the best performer in the FTSE 250 on Friday.
According to the newspaper, Geely is conducting due diligence as it looks at acquiring a stake in the Gaydon, Warwickshire-based firm.
https://www.ft.com/content/d2959822-33a4-11ea-9703-eea0cae3f0de
Geely sells an array of cars under its Lotus, PROTON and Volvo brands.
Earlier this week, the hypercar maker issued another profit warning due to the continuation of challenging trading conditions. Aston martin added that it was continuing to review funding options, including a potential equity capital raise.
By Arvind Bhunjun; [email protected]
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