Aston Martin expands deal with Mercedes-Benz in exchange for stake

An Aston Martin logo is displayed at the 89th Geneva International Motor Show in Geneva

Aston Martin AML.L on Tuesday expanded a deal with Mercedes-Benz AG to access the German automaker’s technology in exchange for new shares, while reporting third-quarter revenue that nearly halved.

The company, which has arranged a new financing package consisting of new shares and notes, said the new shares issued would increase Mercedes-Benz’s stake to no more than 20%.

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