LONDON -- Aston Martin's biggest investor is considering buying another 3 percent stake, offering to increase its holding after shares in the automaker crashed almost 50 percent since its listing nine months ago.
Strategic European Investment Group, part of the Italian private equity group Investindustrial, owns 31 percent of Aston Martin. It only wants to buy a maximum 3 percent stake but has to make an offer to all shareholders due to its already large holding.
The group has secured agreements from existing shareholders such as a group of Kuwait-based investors to back the move.
It is offering to pay 10 pounds ($12.68) per share, the price at which the shares closed on Friday. It must make a decision by July 29.
Aston Martin has struggled since it listed in October last year. Its shares fell on the opening day and are now down 47 percent.
The company's recent results have been hit by a need to invest more in its plants and expand its vehicle offering, leading to higher costs.
