Aston Martin chairman Lawrence Stroll offloaded 34.9 million shares in his company worth $145 Million. The Canadian Investor has sold shares of his British luxury automaker to Chinese automaker Geely.
The news comes at an interesting moment in the Aston’s timeline. The recent success of their F1 team spearheaded by Fernando Alonso’s podium has been all over the news in the past few months.
Very recently, Honda secured a deal to supply engines to the F1 team from the 2026 season. However, with Stroll disinvesting his stocks, there remains a doubt about whether he plans to make a grand exit soon.
Lawrence Stroll sells Aston Martin stock to Chinese company Geely
Lawrence Stroll became of British luxury and sportscar company Aston Martin in 2020. The Canadian Billionaire owned 28.29% of the company and reintroduced them in the F1 grid in 2021.
Stroll has reduced his stake in the company after Chinese automaker Geely announced a $290 Million investment. Geely will acquire about 42 million ordinary shares from Stroll’s company, Yew Tree. Stroll will retain his position as the main shareholder and executive chairman after the deal.
Chinese car company Geely increased its stake in Aston Martin to about 17%, making it one of the biggest shareholders behind The Public Investment Fund of The Kingdom of Saudi Arabia and billionaire Lance Stroll. Geely owns shareholdings in Volvo Cars and Mercedes-Benz too. pic.twitter.com/viaGLtHMLH
— Thami Masemola (@ThamiMasemola) May 19, 2023
The move does not directly impact their F1 team. Aston Martin has enjoyed a fantastic run thanks to Fernando Alonso securing 4 podiums in the opening 6 rounds of the 2023 season. The Silverstone-based team is 2nd in the constructor’s championship, their highest position ever achieved.
They announced a tie-up with Honda from the 2026 season to become a championship contender. However, this raises a question if Stroll is looking to sell his team considering he has already attracted Honda’s attention.
Honda joins forces with Aston Martin from 2026
The news regarding Lawrence Stroll diluting his shares in Aston Martin comes just days after Aston their partnership with Honda was announced. The Japanese manufacturer has entered a technical partnership with the Silverstone-based side.
Honda will be supplying engines to Aston Martin from the 2026 season. This will allow Aston to transform from a Mercedes customer team to a full-fledged works team. It will also further their hopes of fighting for the championship in the coming years.
The deal came out of separation from Honda who were eager to reenter the F1 grid, The Japanese team exited the sport in 2021. However, with the sport moving towards the company’s goals of sustainability, they decided to renter F1 in 2026. However, Honda’s longtime partner Red Bull joined hands with Ford, leaving them without a team.
Hence, it is a more important deal for Honda than for Stroll who could take the opportunity to exit F1. He has financed the Aston Martin team since their Racing Point days and has invested another $250 Million in their state-of-the-art Silverstone base.
Hence, Stroll could see Honda’s incoming as a good chance to step away from his F1 operations. With Aston Martin’s stock soaring due to recent success, the Canadian might be eyeing the perfect opportunity too.
