Currently reading: Aston Martin reveals huge £653m investment plan
Saudi Public Investment Fund (PIF), Mercedes-Benz and current owners to inject £335m, rest to come from share issue

British firm Aston Martin has announced plans to raise £653m in equity capital as it seeks to lower its debt and secure its long-term future.

First revealed by Autocar, the funding is set to include a £78m deal with the Saudi Public Investment Fund (PIF) in exchange for a 16.7% shareholding and up to two non-executive director seats on its board. PIF is already a shareholder in McLaren and Lucid. A further £575m will be raised through a rights issue, which is expected to be undertaken this autumn.

“Today’s announcement marks the latest success in the evolution of Aston Martin, the restoration of the business and balance sheet we inherited, and the acceleration of our long-term growth potential.," said Aston Martin executive chairman Lawrence Stroll.

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