Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Aston Martin Lagonda Global Holdings plc (‘Aston Martin’), a FTSE 250 British luxury car manufacturer, on its c.£653.8 million capital raise as part of the company's strategy to deleverage its balance sheet and strengthen and accelerate its long-term growth. The capital raise consisted of a £78 million strategic investment by the sovereign wealth fund of Saudi Arabia, The Public Investment Fund (‘PIF’) by way of a placing, and a subsequent underwritten 4 for 1 rights issue (the ‘Rights Issue’) to existing shareholders. Major shareholders including PIF, the Yew Tree Consortium (led by Lawrence Stroll, Executive Chairman of Aston Martin) and Mercedes Benz AG participated in the Rights Issue, which was underwritten by J.P. Morgan Securities plc, Barclays Bank PLC, Credit Suisse International and Deutsche Bank AG, London Branch. The Freshfields team was led by partner Mark Austin, counsels Richard Ho and Ethan Magid and associates Egor Marisin, Colleen Baehrend and Isabella Coutts.