Yew Tree Consortium to invest additional $67.98 million in Aston Martin

Investing.com -- Aston Martin (LON:AML) announced on Monday that the Yew Tree Consortium, led by Chairman Lawrence Stroll, is set to invest an additional 52.5 million pounds ($67.98 million) in the luxury automaker.

This investment will increase the consortium’s stake in the company to approximately 33%.

This new funding arrives a month after Aston Martin announced plans to reduce its workforce by 5% due to escalating losses and debt. It also comes only four months after the carmaker last raised capital.

In a further development, Aston Martin said it plans to sell its minority stake in the Aston Martin Aramco (TADAWUL:2222) Formula One team.

The company anticipates that the sale will generate a premium over the current book value of about 74 million pounds.

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