Billionaire Lawrence Stroll takes stake in ailing carmaker Aston Martin
LONDON, Jan 31 (Reuters) - Canadian billionaire Lawrence Stroll will take a roughly 20% stake in Aston Martin for nearly 200 million pounds ($263 million) as the ailing carmaker raises funds to turn around a poor performance hit by weaker-than-expected sales.
The company will raise a total of 500 million pounds, including a rights issue from existing major shareholders.
Stroll will join the board as executive chairman, replacing Penny Hughes, who will step down, the company said. ($1 = 0.7608 pounds) (Reporting by Costas Pitas; editing by James Davey)