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Mercedes F1 boss Toto Wolff takes a stake in Aston Martin

LONDON — Mercedes Formula One boss Toto Wolff has taken a stake in British sportscar maker Aston Martin, whose executive chairman Lawrence Stroll runs the Racing Point F1 team, according to company filings. A Mercedes F1 spokesman said Wolff's move was purely an investment on the Austrian's part and would be diluted by a rights issue on Monday from 4.77% to less than 1%. "Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company," he added. "It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction." Swiss billionaire Ernesto Bertarelli has also bought a 3.38% stake which will be similarly diluted. Wolff previously had a 16% shareholding in former champions Williams but sold that after he joined the Mercedes team, where he serves as principal and owns 30%. Canadian billionaire Stroll, whose son Lance drives for Racing Point alongside Mexican Sergio Perez, is close to Wolff. The Silverstone-based team — to be renamed Aston Martin next year — use Mercedes engines and gearboxes. Mercedes-Benz's parent Daimler also has a small stake in Aston Martin. "It's clear that Aston are now Mercedes' B team," the Daily Mail quoted one Formula One insider as saying. Wolff's future at Mercedes has been the subject of some media speculation, with the 48-year-old linked variously to senior management roles with Liberty Media-owned Formula One and at Aston Martin. His Aston Martin shares were bought from Yew Tree Overseas Limited, a vehicle controlled by Stroll who acquired a roughly 25% percent holding in Aston Martin with a consortium of investors. Mercedes have won the past six Formula One drivers' and constructors' titles but have six times world champion Lewis Hamilton out of contract at the end of the 2020 season, which has yet to start due to the COVID-19 pandemic. Hamilton, who has also been linked to Ferrari, had told reporters before the global crisis changed the sporting and financial landscape that his decision would depend on Wolff's plans. The Briton is now expected to stay at Mercedes, with a radical overhaul of Formula One's sporting and technical regulations postponed to 2022. Related Video: Motorsports Aston Martin Mercedes-Benz

Major Aston Martin shareholder cuts stake in British carmaker

A top Aston Martin shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday. Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake of 14.99% in Aston Martin as of May 29, compared with its previous stake of 19.92%. It was not immediately clear why the fund cut its stake.  Investindustrial is the company's second-biggest shareholder after Canadian billionaire Lawrence Stroll, according to Refinitiv Eikon data. The 107-year old luxury carmaker in May posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. Aston Martin and the PE firm did not immediately respond to requests for comment. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva) Related Video:

This Aston Martin Vanquish Zagato Shooting Brake is a masterpiece in pink

Customizing the exterior colors and styling of a car can be boiled down to a general choice: Go with a low-key classic look or take an outlandish approach that makes the car more exclusive. At least one Aston Martin Vanquish Zagato owner went down the latter route and chose a bright pink paint job for their shooting brake. Brought to our attention by Jalopnik, the car popped up on President and Group CEO Aston Martin Lagonda Ltd Andy Palmer's Instagram. " My Friday factory walk (Gemba) and I came across this beautiful Zagato Shooting Brake about to be shipped," he said on the post. "It's certainly going to stand out for a lucky customer." Stand out, it will. The pink paint, with black wheels and gold accents, adds a new element of uniqueness to the car. As an Aston Martin, it was already a premium sports car. The Zagato treatment makes it even more rare, as does the gorgeous shooting brake bodywork. For some people, that's enough. For others, that the car alone doesn't fully display their character and personality. This is the second time the Vanquish Zagatos have come up in the news in the past week. A different owner chose the classic Villa d'Este paint scheme, but went all out and bought one of each of the Zagato styles. Regardless of which style you prefer, this pink Aston proves one thing: this Zagato looks good in any color. View this post on Instagram A post shared by Andy Palmer (@andyataston) on Dec 8, 2018 at 3:50am PST Related Video: