Arab Today, arab today saab to sell spyker to us firm for 43m
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Saab to sell Spyker to US firm for $43m

Arab Today, arab today

Arab Today, arab today Saab to sell Spyker to US firm for $43m

Hague - Arabstoday

Parent company of struggling Swedish car maker Saab said on Thursday it reached a conditional agreement to sell its Spyker sports car business to US-based firm North Street for 32 million euros ($43 million). “Swedish Automobile NV (Swan) announces it has reached a conditional agreement with North Street Capital, about the main terms of the sale of the Spyker sports car business,” Swan said in a statement. The ailing company signed an original agreement in February with British holding company CPP Global for a sale of 15 million euros. But the deal fell through in June due to “legal disputes,” a Spyker spokesman Mike Stainton said. The agreement announced on Thursday “is not a final agreement” Stainton added, saying “if the conditions of this agreement are not met, CPP remains interested.” The sale’s net result will be used to pay the Swedish car maker’s creditors, said the statement. Spyker’s chief executive Victor Muller will remain in his position and the “continuity of Spyker’s relationships with all its stakeholders and clients is warranted,” it added. Dutch-based Spyker produces between 20 to 70 cars per year at an average price of 200,000 euros. It paid 400 million dollars in February 2010 to buy Saab from General Motors and has never made a profit since its creation in 2000. Swedish Automobile had earlier warned in a statement: “There can be no assurance that the negotiations can be completed successfully and that final agreement can be reached on the above or different terms.”  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saab to sell spyker to us firm for 43m Arab Today, arab today saab to sell spyker to us firm for 43m

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saab to sell spyker to us firm for 43m Arab Today, arab today saab to sell spyker to us firm for 43m

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday