Thursday, 29 September 2011

Swedish car maker sells Spyker to PE firm North Street Capital for 32 million euros

Cash strapped Swedish car maker Saab confirmed the earlier media reports that it has sold the high end luxury sports car brand, Spyker to US based Private Equity firm North Street Capital for 32 million euros.

Saab confirmed that the cash would be used to repay the debt of the company.

Earlier in February, the company said it is planning to sell the Luxury car brand to CPP Global Holdings, the UK holding company of Russian businessman Vladimir Antonov, saying that the deal could raise upto 32 million euros, but then by August the company said that the deal has been put on hold.

Spyker's sports cars have appeared in Hollywood films including The Pink Panther and Basic Instinct 2. Only a few dozen are produced each year, with a list price of about 200,000 euros for the C8 Aileron. 


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