This post was originally published on this site
Investing.com — Shares in Aston Martin Lagonda Global Holdings PLC (LON:AML) slumped by more than 9% on Thursday, after media reports suggested that Saudi Arabia’s sovereign wealth fund is eyeing a potential stake in the sports car maker.
Saudi Arabia’s Public Investment Fund is in talks over taking a £200M holding in Aston Martin, according to Autocar and the Financial Times. Negotiations are reportedly in the early stages, but the terms of a potential deal may also include a seat on Aston Martin’s board.
Another possible contender for the stake is an unnamed investment fund based on the west coast of the United States, Autocar reported.
Aston Martin and the PIF both declined to comment in the reports.
The rumors come as Aston Martin looks to expand its business into electric vehicles and create a new crop of super cars. However, the company has large amounts of debt and is not set to generate cash until next year.
