Canadian billionaire Lawrence Stroll reportedly eyeing major stake in Aston Martin

Ross Houston
December 6, 2019

Reports circulating this morning are suggesting SportPesa Racing Point could be set for a rebrand with Lawrence Stroll being linked to buy-in at Aston Martin.

The report also adds that Stroll would want to take advantage of Aston Martin's branding, wrapping the Racing Point auto in their green colours.

Aston Martin has gone bankrupt seven times in its 106 year history and its share prices have plunged by around 75 percent in the last year on falling demand for the Vantage.

Neither Stroll or Aston Martin have commented on the reports.

The carmaker's shares were up almost 17% at 5.88 pounds ($7.54) at 1414 GMT, valuing the business at about 1.3 billion pounds, but still far below their initial public offering (IPO) price of 19 pounds.

But the sale of a stake could help boost the company's prospects as it seeks to turn around a poor performance, which pushed it to a 92.3 million pound ($118.4 million) loss in the first nine months of the year. Stroll's son Lance, 21, drives for the team.

Aston Martin launches its first SUV which takes input from a female advisory board to cater to women buyers.

As Red Bull's main F1 sponsors, Aston Martin face a clash of interest.

Stroll, who is estimated to be worth US$2.6 billion ($3.8 billion) by Forbes, made his fortune by investing in and building up many well-known fashion brands, including Pierre Cardin, Ralph Lauren, Tommy Hilfiger and Michael Kors.

Stroll 2018 led a consortium that acquired the insolvent Force India F1 team, with the team rebranded Racing Point for the 2019 season and Stroll Jnr. paired up with Sergio Perez in the driver lineup.

The Silverstone-based team, who use Mercedes engines, finished seventh overall this season but are planning a factory expansion.

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