Aston Martin Says Future Access to Mercedes-Benz Tech Will Be in Cash
June 26 2023 - 3:31AM
Dow Jones News
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.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
June 26, 2023 03:16 ET (07:16 GMT)
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