Aston Martin Lagonda lines up LSE exit as Stroll weighs next move — F1 team branding to stay
Aston Martin Lagonda may be preparing to pull its famous wings off the London Stock Exchange, with multiple sources indicating a delisting could come as soon as the near term. Seven years on from a bruising 2018 float that’s seen the stock shed more than 98% of its value, the road car maker appears ready to take its next steps away from the spotlight of public markets.
One obvious destination is private ownership. The Financial Times reported executive chairman Lawrence Stroll has held preliminary talks with Saudi Arabia’s Public Investment Fund (PIF) about such a move. PIF already holds 19.5% of Aston Martin Lagonda. But when asked directly about a take-private, a spokesperson said: “Aston Martin is not in talks with PIF about being taken private.” Notably, the company did not deny the broader suggestion that it intends to delist from the LSE.
The shareholder register remains a who’s who of heavyweight backers. Alongside PIF’s near-20% stake are holdings from Geely and Volvo chairman Shu Fu Li (14.09%), Swiss investor Ernesto Bertarelli (13.82%), and Mercedes (7.547%). Earlier this year, Stroll’s Yew Tree Investments nudged its influence higher, climbing from 26.67% to 33% as the group tightened its grip on strategy.
Why delist? Beyond the obvious optics of a battered share price, reporting obligations and regulatory thresholds are relentless for a business trying to rebuild product cadence and margins. Operating outside quarterly market scrutiny can allow management to reshape capital structure and model cycles with fewer public pressure points. In Aston Martin’s case, the tailwinds simply haven’t shown up yet. In Q3, the company guided to a mid-to-high single-digit decline in wholesale volumes versus 2024 and said it no longer expects positive free cash flow generation in the second half of 2025.
There’s also been a clean break — on paper, at least — from the Formula 1 equity story. In August, Aston Martin Lagonda confirmed it would sell its minority stake in the F1 team for £108 million. That sale closed in Q3 2025, lifting group liquidity to around £250 million. The F1 outfit continues under a long-term branding agreement with the road car company, so the green cars and the Aston Martin name aren’t going anywhere on the grid. For paddock watchers, that’s the key line: the racing team’s day-to-day is insulated from whatever happens to the automaker’s listing status.
Macro hasn’t helped. US tariffs and weak demand in China have squeezed the luxury end of the market, just as Aston pushes an ambitious product refresh. The market’s verdict has been unforgiving: the company’s value now sits around $893 million, down from a $4.95 billion peak in October 2018. New CEO Adrian Hallmark, who arrived with a reputation for crisp execution, didn’t sugarcoat the backdrop with the latest results: “This year has been marked by significant macroeconomic headwinds, particularly the sustained impact of US tariffs and weak demand in China. In response to these market dynamics, we have taken, and continue to take, proactive steps to strengthen our overall position. Work is underway to review our future product cycle plan with the aim of optimising costs and capital investment whilst continuing to deliver innovative, class‑leading products to meet customer demands and regulatory requirements.”
The take-private question remains the hinge. PIF’s official line is that it isn’t in talks to do the deal, and the fund declined to add further comment when approached elsewhere. Even so, the investor mix and governance structure give Stroll options, and delisting on its own would be a meaningful first step toward a more flexible capital future — whether or not a full buyout follows.
From a Formula 1 perspective, the picture’s simpler. Aston Martin’s commercial tie-up with the team remains in place under a long-term agreement, and the racing programme’s ownership structure is already largely separate after the minority divestment. Whatever happens in the City, the brand still has a grandstand seat in the paddock.
For a company that’s spent years firefighting on public markets, removing the glare could be exactly what Stroll wants: fewer distractions, more control, and a little room to breathe. The ticker may disappear; the green cars won’t.
