Yew Tree investment group, led by Aston Martin executive chairman Lawrence Stroll, has increased its ownership of the British automaker to 28.29%, reports
Autocar.
The publication reveals that their investment was around 19% earlier this year, but after Chinese automaker Geely increased its stake a couple of months ago, Yew Tree and Stroll became suspicious. To ward off any chance of a hostile takeover, Aston Martin began soliciting more investment, and Yew Tree ultimately made a series of investments worth a total of roughly £50 million (over $60 million) over the past few months.
As you may recall, Aston Martin has been facing financial trouble for a long time, but Stroll and his group are clearly still confident that they can lead the iconic marque to greater success.