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Aston Martin's largest shareholder confirms £10 a share offer to buy back float-flop shares

Regretting buying those overpriced Aston Martin shares last November? Now's your chance to offload some of them - at a massive loss!

Aston Martin car
The Aston Martin flotation (and its aftermath) has left investors shaken, not stirred

Aston Martin Lagonda Global Holdings PLC’s (LON:AML) biggest shareholder, Strategic European Investment Group, is offering to up its stake by three percentage points.

The move was flagged at the beginning of this month and now the group, which consists of several companies managed by Investindustrial Advisors Limited, has decided to pull the trigger, offering to buy 6.84mln shares in the luxury car maker at £10 a pop.

READ Aston Martin’s biggest investor considers adding to its 31% stake

Considering the private equity group offloaded some of its shares at £19 a throw when the car maker floated back in November, trousering £450mln in the process as it reduced its stake to 30.9% from 41.3%, the cheeky offer is said to represents a vote of confidence in the long-term prospects of the company.

“The offeror's investment in Aston Martin through the partial offer is based on the offeror's belief in the long-term value of the Aston Martin shares,” said a stock market announcement from Strategic European Investment Group.

Quick facts: Aston Martin Lagonda Global Holdings PLC

Price: 410.2 GBX

LSE:AML
Market: LSE
Market Cap: £935.27 m
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