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Aston Martin's biggest investor considers boosting stake

Strategic European Investment Group has a 30.97% stake in Aston Martin
Strategic European Investment Group has a 30.97% stake in Aston Martin

The biggest investor in Aston Martin is considering buying another 3% stake, offering to increase its holding after shares in the luxury carmaker crashed almost 50% since its listing nine months ago. 

Strategic European Investment Group, part of the Italian private equity group Investindustrial, owns 31% of Aston Martin. 

It only wants to buy a maximum 3% stake but has to make an offer to all shareholders due to its already large holding. 

It has secured agreements from existing shareholders such as a group of Kuwait-based investors to back the move. 

The company is offering to pay £10 a 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%. 

The company's recent results have been hit by a need to invest more in its manufacturing plants and expand its vehicle offering, leading to higher costs.