(This September 30 article corrects the previous closing day in the second paragraph to September 29 from September 28, and the value of the bid to £66.6 million from £7.55 billion)
(Reuters) – Chinese car company Zhejiang Geely Holding Group said on Friday it had acquired a 7.6 percent stake in British luxury car maker Aston Martin, but did not disclose the value of the deal.
Based on Aston Martin’s share price at the close of trading on September 29, the stake is valued at £66.6 million ($74 million).
The company has been acquired by Li Shufu, the founder and chairman of Zhejiang Geely, Aston Martin said in a regulatory filing, making the Chinese firm one of the British automaker’s top shareholders, according to Refinitiv Eikon.
“We look forward to exploring potential opportunities for interaction and cooperation with Aston Martin as it continues to implement its strategy to achieve long-term sustainable growth and increased profitability,” said Daniel Donghu Li, Chief Executive Officer of Zhejiang Geely.
Aston Martin also separately announced the completion of a £654m capital increase.
($1 = £0.8994)
(Reporting by Jaskiran Singh in Bengaluru; Editing by Anil D’Silva and Arun Koiyur)
