Aston Martin expands deal with Mercedes-Benz in exchange for stake

In this news, we discuss the Aston Martin expands deal with Mercedes-Benz in exchange for stake.

(Reuters) – Aston Martin AML.L on Tuesday expanded a deal with Mercedes-Benz AG to access the German automaker’s technology in exchange for new shares, while reporting third-quarter revenue that nearly halved .

The company, which has organized a new financing plan consisting of new shares and new notes, said the new shares issued will increase Mercedes-Benz’s stake to a maximum of 20%.

Report by Yadarisa Shabong in Bengaluru; Edited by Arun Koyyur

Original © Thomson Reuters

Originally posted 2020-10-27 21:16:09.

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