05/12/2019
NEWS STORY
Lawrence Stroll, leader of the consortium that bought Force India last year, is said to be looking at taking a major stake in car maker Aston Martin.
The iconic car manufacturer floated in October 2018, just months after Stroll's consortium bought Force India, but with sales failing to reach expectations the share price has dropped dramatically.
Worth £19 at the time of the float, in recent weeks they have slumped to around £5.
Neither, Stroll, Racing Point or Aston Martin is commenting on the speculation, but at least the share price has responded, increasing by 15% to almost £6 within hours of the story breaking.
An early backer of clothing designers Tommy Hilfiger and Michael Kors, Stroll has helped build a number of other companies into global brands including Pierre Cardin, Ralph Lauren and jewellers Asprey & Garrard.
Fellow members of the Racing Point consortium are John McCaw Jr, one of four brothers who made their fortunes through the sale of McCaw Cellular to AT&T for $12.6bn in 1994, along with Silas Chou, Canadian entrepreneur Andre Desmarais, Jonathan Dudman of Monaco Sports and Management, financial expert Michael de Picciotto and John Idol the boss of Michael Kors.
Aston Martin, of course, is title sponsor of the Red Bull F1 team.