The Saudi sovereign wealth fund will acquire a 17% stake in British luxury automaker Aston Martin and become the company's second largest shareholder behind Chairman Lawrence Stroll's Yew Tree.
As a result of the share purchase, the wealth fund will be entitled to two seats on the board of the company and Aston Martin will receive a much needed injection of cash to reduce debt and fund its business.
German automaker Mercedes-Benz AG will now be the third largest shareholder with a 9.7% stake in the company, but was looking to increase its holding to 20% this year, according to Reuters.
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