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Geely inks deal to become No. 3 shareholder in Aston Martin

Chinese automaker's stake in James Bond's car brand rises to 17%

Aston Martin is one of Britain's best-known luxury automobile brands. (Photo courtesy of Aston Martin)

SHANGHAI -- Zhejiang Geely Holding Group increases its stake in Aston Martin Lagonda Global Holdings to about 17%, becoming the British luxury sports car maker's third-largest shareholder, under an agreement announced Thursday.

The deal has China's largest privately owned automaker investing about 234 million pounds ($290 million) to receive both existing and new shares. Aston Martin takes in around 95 million pounds in cash for the new shares.

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