Aston Martin investment talks gather pace

MSCI's broadest gauge of the world's stocks in 49 countries rose modestly to hit an all-time high

MSCI's broadest gauge of the world's stocks in 49 countries rose modestly to hit an all-time high

The iconic British Aston Martin auto may be sold to a Chinese company, according to reports.

Zhejiang Geely Holding Group Co. of China has held talks with management and investors in Aston Martin Lagonda Global Holdings Plc about taking a stake in the United Kingdom carmaker, the Financial Times reported. However, the talks may lead to a technological partnership instead of a full investment, one of the four said.

Geely's chairman Li Shufu, owns a 9.69% stake in Mercedes-Benz parent Daimler. This bit of financial turmoil has also affected the company's shares, falling by 16 percent.

"Bloomberg" are reporting that Stroll - who has amassed a fortune in excess of £2billion - is in 'advanced discussions with Aston Martin.

On 7 January, Aston said it remained in discussions with potential strategic investors and the FT confirmed the company was in talks with various parties.

In what's described as a "final effort" according to Automotive News, Aston is seeking investment from Lawrence Stroll - the Canadian owner of Racing Point Formula 1 team.

Geely sells an array of cars under its Lotus, PROTON and Volvo brands.

Aston is hoping to base its recovery on the DBX, a sport utility vehicle that will be built at a new facility in Saint Athan, Wales. The SUV, which has already generated 1,800 orders, will go into production in the second quarter of this year.

A spokesman for Aston declined to comment on whether the company is in talks with Geely, and reiterated a statement from Tuesday.

A spokesman for Geely Europe declined to comment.

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