British luxury-car maker Aston Martin has stalled in some past attempts to prop itself up.
HONG KONG—Chinese automotive giant Zhejiang Geely Holding Group Co., known as Geely, has acquired a nearly 8% stake in British sports-car brand Aston Martin Lagonda Global Holdings adding to Geely’s portfolio of European legacy car companies.
Geely, which also owns Lotus Advance Technologies Sdn Bhd. and Volvo Car said Friday that it acquired 7.6% of the ultraluxury brand’s ordinary shares. Geely’s participation is part of Aston Martin’s latest $723 million rights issue, according to a statement by the British company.
Aston Martin, James Bond’s Go-To Sports Car, Sells Stake To China’s Geely
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