Rumors have been circulating for some time. In fact, since the takeover by a group of businessmen led by Quebecer Lawrence Stroll. Over the past few months, the company has replaced its CEO, replaced its board of directors, and the Financial Times reports that the company will raise 260 million pounds sterling, or just over 437 million Canadian dollars by combining new debt. – at an interest rate of 12% – and a sale of shares, which together represent around 20% of its activity.
Financial difficulty and pandemic
The pandemic came at a very bad time for everyone, but especially for Aston Martin, who had just restarted the company and who saw his projects stopped by the Coronavirus. For now, the brand is going into debt at great cost to bet everything on the new DBX utility. It should be remembered that Lawrence Stroll launched a $ 540 million rescue operation earlier this year with a promise to restart the business. The company's stock has dropped 90% since it went public in late 2018.
We cross fingers
Aston’s fate therefore rests on a utility vehicle based on a Mercedes AMG engine that produces 542 horsepower, will sell for around $ 200,000 and will compete with the Lamborghini Urus, the Porsche Cayenne Turbo and the Bentley Bentayga. According to the results obtained, Aston will also present the Valkyrie somewhere in 2021. If one relies on the stock market value, it cannot be said that investors are overflowing with enthusiasm
The article Aston Martin on the edge of the abyss appeared first on Benoit Charette.