Official: Toto Wolff joins Aston Martin as a shareholder

(Motorsport-Total.com) – Mercedes team boss Toto Wolff becomes a shareholder in the British sports car manufacturer Aston Martin. Although the 48 -year-old Austrians initially denied a legend from 'Motorsport-Total.com' , according to which he had submitted a written offer to start as an investor, in various media, the message is now officially confirmed.

Wolff last had in the interview with the daily newspaper 'Austria' explains that he will “not have a strategic investment as an investor with Aston Martin.”

The now confirmed transaction is officially called a “personal investment”. According to information from the 'Day-to-day Mail' , Wolff's share stake corresponds to a value of 37 Millions Pounds of salubrious. This corresponds to more than 42 million euros.

Wolff thus has options over a total volume of 4, 77 percent of Aston Martin shares secured. After completion of the associated rights issue “this investment [Stand nächste Woche] will have a share of 0, 95 mean percent of the company, “explains a Mercedes spokesman.

This also makes it clear:” It is a financial investment , and Toto's partnership and his executive role at Mercedes remain unaffected by the transaction. “

Wolff is said to be good friends with Lawrence Stroll, who officially announced his new situation as CEO on Monday at Aston Martin, when AML is listed on the London stock exchange. Bernie Ecclestone's claim that the Mercedes team boss could become CEO of Aston Martin in addition to his entry as an investor has not yet been confirmed.

The AML share price has been since the IPO in October 2018 more than 90 percent slumped. At the beginning of January toddle the paper at 175, 8 pence salubrious (adjusted rate after capital increase). AML is currently only available at 50, 5 pence.

For the Daimler Group, Wolff's commitment does not represent a conflict of interest. The German automobile manufacturer has with Aston Martin 2013 concluded a contract for the delivery of motors, electrical components and infotainment systems. In return, five percent of the shares (without voting rights) were agreed at the time.

As part of this transaction, Daimler effectively secured a veto right against investments by strategic competitors of the group. In plain language means: Daimler can effectively block new investors at Aston Martin – or leave the partnership with three years' notice.

Used to be Wolff's future as team boss at Mercedes, by the way, no decision has yet been made. His contract expires at the end of the year. Most recently, he had assured 'Austria' : “I am and will remain Head of Mercedes Motorsport and Formula 1 Boss, and nothing will change in the short term. “