Geely Holding aka Zhejian Geely Holding Group has finally acquired a stake in Aston Martin or Aston Martin Lagonda Global Holdings plc.
They've been at it for quite some time with the idea to fully acquire the iconic brand under its wings, but finally settled for 7.6% of the ordinary share capital. That's still a lot for the 'ultra-luxury British performance brand'.
According to Daniel Donghui Li, CEO of Geely Holding Group, "We are delighted to announce our investment in Aston Martin and believe that with our well-established track record and technology offerings, Geely Holding can contribute to Aston Martin’s future success."
"We look forward to exploring potential opportunities to engage and collaborate with Aston Martin as it continues to execute its strategy to achieve long term, sustainable growth and increased profitability," added Daniel in the very brief press release.
Aston Martin has been on Geely's radar for quite some time ever since the company's initial public offering back in 2018. Geely made its offer but was later rejected in favour of Lawrence Stroll's pitch to re-enter Formula 1 and bring the fight into the top motorsports race.
Geely made another offer again in July with a purse of around RM6.7 billion but was later rejected again by Aston Martin. In the end, they settled with 7.6% of the stake, but the price for that piece of pie was never disclosed.
Sep is a firm believer in the saying "Slow is smooth, smooth is fast" rather than "When in doubt, throttle it out". Drive safely, ride defensively, and most importantly, don't get hangry.