Mercedes-Benz Takes 20% Cut Of Aston Martin

Earlier this year, Aston Martin hired former Mercedes-AMG Boss Tobias Moers to be its new CEO. The move wasn’t considered too surprising, as Mercedes already owns a 5% stake in Aston Martin. Mercedes CEO Ola Kallenius claimed that his company would not increase its ownership stake in Aston Martin, but as it turns out, that statement was false. Today, the two companies announced an expanded partnership with an increase in shareholding.As part of this new agreement, Mercedes will allow Aston to access its next-generation hybrid and electric powertrains and other vehicle components and systems. In turn, Mercedes will receive more shares of Aston Martin over the next three years up to a total value of 286 million pounds (around $374 million). These new shares will take Mercedes’ ownership of Aston Martin to a maximum ownership stake of 20% and no higher.
Source: carbuzz.com