Canadian billionaire Lawrence Stroll is emerging as the front-runner to buy a stake in luxury carmaker Aston Martin Lagonda Global Holdings as interest from a rival Chinese investor wanes, people with knowledge of the matter said.
Chinese tycoon Li Shufu’s Zhejiang Geely Holding Group is cooling on the idea of a deal with Aston Martin, the people said, asking not to be identified because the information is private. Aston Martin could decide on its plan of action as early as this month, according to the people.
Stroll has been discussing a potential investment of about 200 million pounds (US$261 million) in the British automobile manufacturer, Bloomberg News reported earlier. Aston Martin spoke to several investors about a potential capital increase as it makes a final effort to bring in fresh funding, people with knowledge of the matter said at the time.
No final agreements have been reached, and the carmaker could fail to reach an agreement or decide against bringing in new investors, the people said. Representatives for Aston Martin and Geely declined to comment, while a representative for Stroll couldn’t immediately be reached for comment.