21/09/2021

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Investindustrial cuts stake in Aston Martin by 5{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a}

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A top Aston Martin shareholder cut its stake in the British carmaker by nearly five{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a},...

A top Aston Martin shareholder cut its stake in the British carmaker by nearly five{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a}, a regulatory submitting showed on Monday.

Italian non-public-fairness agency Investindustrial Advisors Ltd disclosed a stake of fourteen.99{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} in Aston Martin as of May well 29, compared with its preceding stake of 19.ninety two{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a}. It was not right away apparent why the fund cut its stake. 

Investindustrial is the firm’s second-largest shareholder after Canadian billionaire Lawrence Stroll, in accordance to Refinitiv Eikon facts.

The 107-year old luxury carmaker in May well posted a deep 1st-quarter decline after sales dropped by pretty much a third because of to the effect of the novel coronavirus outbreak.

Aston Martin and the PE agency did not right away respond to requests for comment.

(Reporting by Pushkala Aripaka in Bengaluru Editing by Anil D’Silva)

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