Aston Martin F1 team gets investment from PE firm Arctos

The Aston Martin Formula One team said on Thursday it had agreed on an investment by U.S. private equity firm Arctos Partners in exchange for a minority shareholding.

Owner Lawrence Stroll has sold his stake in the team for 1 billion euros ($1.09 billion) to Arctos, a person with knowledge about the matter told Reuters.

"They share our vision for our ultra-luxury brand, and they are extremely passionate about the sport and its prospects," Executive Chairman Stroll said in a statement.

The F1 team is sponsored by the eponymous British luxury carmaker in which Stroll holds the largest shareholding of over 25 per cent.

French carmaker Renault in June sold a 24 per cent stake valued at 200 million euros in its F1 team, Alpine Racing, to an investor group which included Hollywood actors Ryan Reynolds and Rob McElhenney.

($1 = 0.9213 euros)