Aston Martin
Aston Martin SUV – Saudi Wealth Fund’s £653 Million Investment. The kingdom’s Public Investment Fund (PIF), run by Crown Prince Mohammed bin Salman, will acquire a 16.7% interest in Aston Martin.
Saudi Arabia’s sovereign wealth fund investment of £653 million will make it the second-largest shareholder in Aston Martin, the James Bond vehicle manufacturer.
Aston Martin
Aston Martin Lagonda Global Holdings PLC is a manufacturer of luxury sports cars and grand tourers. It was founded in 1913 by Lionel Martin and Robert Bamford
In the 1950s and 1960s, Aston Martin became synonymous with pricey grand touring automobiles and the fictional James Bond after he drove a DB5 model in the 1964 movie Goldfinger.
They are considered a British cultural icon for their sporting automobiles.
Its Formula One team is based in Silverstone. A brand-new factory measuring 37,000 square meters (400,000 square feet) is expected to open in 2023. The plant is located on a 30-acre location next to the Silverstone racetrack.
Share Holding
Chairman Lawrence Stroll’s Yew Tree holds 18.3 % of the shares and is the largest shareholder. With this acquisition, Saudi Arabia’s Sovereign Wealth Fund will become the second largest shareholder with 16.7%
The current second largest shareholder is Mercedes Benz, which holds 9.7 % shares.
Aston Martin is dealing with a large amount of debt, a precipitous stock decline, and a failing Formula One team.
The manufacturer has experienced difficulties ever since its IPO in late 2018. Nearly 73 percent of its shares have decreased this year on the London Stock Exchange.
According to Aston Martin. The repayment of debt will take up half of the new capital generated by Saudi Wealth Fund’s £653 million investment in Aston Martin
Aston Martin also revealed that its wholesale volumes decreased from 2,901 in the prior year to 2,676 in the first half. Over 6,660 units are anticipated to be sold for the entire year.
The New Aston Martin SUV V12 Vantage
Aston Martin V12 SUV Vantage is their latest model on the market. Find a preview below.
Saudi’s Sovereign Wealth Fund
The sovereign wealth fund of Saudi Arabia is known as the Public Investment Fund (PIF; Arabic: ). With estimated total assets of $620 billion, it is one of the biggest sovereign wealth funds in the world.
King Faisal bin Abdulaziz Al Saud created the Saudi Arabian Public Investment Fund (PIF) in 1971.
the goal of the Saudi Sovereign Wealth Fund is to invest money on behalf of the Saudi Arabian government. The Crown Prince of Saudi Arabia, Mohammed bin Salman, currently controls the wealth fund.
Investments of the Saudi Investment Fund
It has received criticism for being one of the least open sovereign wealth funds in the world. The Wall Street Journal observed in 2016 that none of the investments in the fund were listed.
Listed are some known investments of the Saudi Investment Fund
- $3.5 billion stake in Uber
- $713.7 million stake in Boeing
- $522 million in Citigroup
- $522 million stake in Facebook
- $495.8 million stake in Disney
- $487.6 million stake in Bank of America
- $827.7 million stake in oil company BP.
- $1.5 billion stake in India’s Jio Platforms
- a small stake in Berkshire Hathaway
- 8% stake in Embracer Group with a $1 billion investment
- 5% stake in the Japanese video game company Nintendo
- stakes in the American video game companies Electronic Arts, Take-Two Interactiveand Activision Blizzard
- $45 billion in Investment Firm The SoftBank Group
- Starbucks and pharmaceutical company Pfizer
The Saudi-led takeover of Newcastle United Football Club
The takeover of Newcastle United in October 2021 gave the national wealth fund of Saudi Arabia, 80% ownership in the club. It rekindled the discussion about the influence of Gulf money in European sports. Some people were surprised by the £305 million deal, yet it is not at all surprising that a Saudi sovereign wealth fund was behind it:
For more than ten years, Gulf finances have played a significant role in Europe’s elite football scene. The Premier League, Newcastle fans, the UK government, and a Qatari sovereign wealth fund sports media firm, beIN Media, engaged in 18 months of legal fighting before the final takeover announcement was made.
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