March 13, 2020 / 5:03 PM / 19 days ago

Aston Martin boosts capital raising plan in face of coronavirus outbreak

LONDON, March 13 (Reuters) - Aston Martin is increasing a 500-million pound ($617 million) capital raising plan by 36 million pounds due to the coronavirus outbreak which will now see a consortium led by Canadian billionaire Lawrence Stroll take a 25% stake in the carmaker.

“There has been a significant change in the global market environment in which Aston Martin Lagonda operates,” said Stroll.

“What has not changed is our commitment to provide the company with the necessary funding it needs to manage through this period, to reset the business and to deliver on its long-term potential.” ($1 = 0.8098 pounds) (Reporting by Costas Pitas)

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