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

(Reuters) – Aston Martin 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%.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Arun Koyyur)