(Bloomberg) — Daimler AG’s Mercedes-Benz is increasing its stake in struggling luxury-car maker Aston Martin Lagonda Global Holdings Plc as part of a series of moves by the British company to shore up its finances.Mercedes will boost its shareholding to as much as 20% in stages, the companies said while announcing an expanded technology partnership Tuesday. Aston Martin and its subsidiaries will raise a total of about 1.3 billion pounds ($1.7 billion) through new bond and stock offerings and by refinancing existing debt.Aston Martin has struggled in the two years since it went public with bloated inventory and poor sales …read more
Source:: Yahoo Finance
