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Billionaire Lawrence Stroll reportedly seeks major stake in Aston Martin

LONDON — Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin, Autocar magazine reported, sending the carmaker's battered share price up nearly 15% on Thursday. The British sports car maker's share price has slumped since its initial public offering in October last year. The shares launched at 19 pounds ($24.50) before dropping for months and languishing at around 5 pounds for weeks as sales have failed to meet expectations. Its major shareholder is Strategic European Investment Group from Italy, which holds about a third of the company. Stroll is the father of Formula One driver Lance Stroll, and is also famed for his car collection, regarded as one of the best collections of Ferraris in the world. Stroll is heading up a consortium looking to take a "major shareholding" in Aston Martin, Autocar said on Thursday. Two weeks ago, Aston unveiled the DBX, its first SUV, and is pinning its hopes on the model's success. Aston Martin declined to comment. Racing Point did not immediately respond to an emailed request for comment. The carmaker's shares were up nearly 15% at 5.79 pounds Thursday.  

Aston Martin close to IPO on the London Stock Exchange

According to a report from Sky News, Aston Martin is close to announcing plans to go public with an IPO on the London Stock Exchange. A listing on the New York Stock Exchange has also reportedly been considered. In December of last year, news broke that the company's owners had hired financial advisory firm Lazard to prepare for a potential offering. The report suggests that the British automaker is looking at an offering of $1.29 billion (GBP1 billion) in shares and an overall company valuation of around $6.44 billion (GBP5 billion). An Intention To Float statement could be filed as early as next week, says Sky. Last year was good for Aston Martin, with a total of 5,117 vehicles sold globally, a 58 percent jump from 2016. The company reported pre-tax profits of nearly $112 million (GBP87 million) in 2017. And it is working on a flurry of new products such as the Valkyrie supercar, an upcoming SUV, the new DBS Superleggera (shown above), and even an ultra-exclusive, real-life James Bond gadget-laden DB5. As of right now, Aston Martin's largest investors are I taly's Investindustrial and Kuwait's Investment Dar. Daimler also holds a sizable stake. Aston said it had filed a registration document with Britain's Financial Conduct Authority, a requirement for firms considering an IPO, at a time when the likes of Tesla boss Elon Musk have slammed the additional pressures of being listed. Pending a final decision from the FCA, a prospectus will be published on or around Sept. 20 as the maker of sports cars that can cost hundreds of thousands of pounds hopes to tap into global demand from wealthy buyers who want a slice of the high-end brand. The carmaker hopes to complete the flotation this year, the same target that British Prime Minister Theresa May is working towards to agree a deal for leaving the European Union. Aston sells roughly 25 percent of its cars to the EU and operates its only plant in Gaydon, central England, with a second one due to begin operations in Wales in 2019. "We can demonstrate that Brexit is not a major effect for us," Chief Executive Andy Palmer told Reuters. "If there is a tariff into Europe, it's countered by a tariff into the UK for our competitors so you might lose a little bit of market share in the EU but you pick it up in the UK," he said. Niche carmakers such as Aston and McLaren are more concerned about customs checks than tariffs as they believe many of their buyers can absorb a price hike.

Robert Plant’s 1965 Aston Martin DB5 is for sale

It was made famous by James Bond in the 1964 film "Goldfinger," and this particular version was given its lived-in quality by the frontman of one of rock-and-roll's biggest bands. Now you, too, can own the Aston Martin DB5 likely driven to Bron-Yr-Aur and across the land of the ice and snow by none other than Robert Plant. The website Classic Driver is offering the 1965 DB5 coupe owned by Plant, who is most famous as the former lead singer of hard rock titans Led Zeppelin, from the early 1970s until 1986, when he sold it to father and son collectors based in England. Painted in Dubonnet Rose, the four-seater GT has 62,400 miles on it, a tan leather interior and what must be many, many untold stories of rock-and-roll excess. The DB5, which updated the DB4, had an all-aluminum 4.0-liter, DOHC straight-six engine that made 285 horsepower and 280 pound-feet of torque mated to a full synchromesh ZF five-speed gearbox. It also featured three SU carburetors, twin hydraulic brake servos, Girling disc brakes and the early use of electric windows. It became famous as James Bond's third but most recognizable card, with a prototype version full of gadgets used by Sean Connery in "Goldfinger," and the car re-appearing in several subsequent Bond movies and with different actors. This particular DB5 was restored by Aston Martin agents Chapman Spooner shortly after Plant sold it in 1986, and the car was entered into a number of Aston Martin Owners Club events during the '80s. The current owner bought it in 2008 from Nicholas Mee & Co., used it very sparingly and kept the car in a controlled environment. Given the lore that surrounded Led Zeppelin in its heady '70s rock-juggernaut days, it's remarkable that the car survived intact as well as it apparently has. The DB5 was apparently a popular one among British rock royalty of the era, as Bonhams Bond Street just sold a '64 version previously owned by Paul McCartney for $1.8 million.Related Video: Featured Gallery Robert Plant's 1965 Aston Martin DB5 View 15 Photos Image Credit: Nicholas Mee & Co Ltd Aston Martin Automotive History Coupe Luxury Classics famous cars aston martin db5