Aston Martin Gets Further $68 Million Funding, to Sell Stake in F1 Team

Aston Martin said on Monday Chairman Lawrence Stroll’s Yew Tree Consortium would invest a further 52.5 million pounds ($67.98 million) in the luxury carmaker and increase its stake to about 33%.

The fresh funding comes a month after the carmaker said it would cut 5% of its workforce as its losses and debt ballooned, and just four months after it last raised capital.

The company added it would sell its minority stake in the Aston Martin Aramco Formula One team, and expects to realize a premium to the current book value of about 74 million pounds.