By Anthony O. Goriainoff
Aston Martin Lagonda Global Holdings said Monday that future access to technology from Mercedes-Benz Group will be in cash instead of an option to buy shares after the companies’ strategic cooperation agreement was amended.
The U.K. luxury-car maker said Mercedes will remain a long-term strategic partner with a shareholding of around 9% in the company, and will retain its current representation on its board of directors. No further consideration of shares or related cash top-up payments will be issued or paid to Mercedes, Aston Martin said.
Under the amended SCA, Mercedes will continue to provide Aston Martin with access to a range of technologies including powertrain and electric/electronic architectures for current and future-generation vehicles.
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