A prime Aston Martin shareholder reduce its stake in the British carmaker by almost 5%, a regulatory submitting confirmed on Monday.
Italian private-equity agency Investindustrial Advisors Ltd disclosed a stake of 14.99% in Aston Martin as of May 29, in contrast with its earlier stake of 19.92%. It was not instantly clear why the fund reduce its stake.
Investindustrial is the corporate’s second-biggest shareholder after Canadian billionaire Lawrence Stroll, in accordance with Refinitiv Eikon knowledge.
The 107-year previous luxurious carmaker in May posted a deep first-quarter loss after gross sales dropped by nearly a 3rd as a result of impression of the novel coronavirus outbreak.
Aston Martin and the PE agency didn’t instantly reply to requests for remark.
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D’Silva)