North Street Capital to buy Spyker cars: source

Reuters

AMSTERDAM (Reuters) - U.S.-based private equity firm North Street Capital has agreed to buy Dutch luxury car maker Spyker from its parent company Swedish Automobile <SWAN.AS>, the Financial Times newspaper reported on Wednesday.

Dutch-listed Swedish Automobile had initially agreed in February to sell Spyker to CPP Global Holdings, the UK holding company of Russian businessman Vladimir Antonov, a former Spyker shareholder, for an initial 15 million euros.

Continue Reading Below

But Swedish Automobile, which also owns Saab, said at the end of August that it was putting the planned sale of Spyker cars to Antonov temporarily on hold.

Saab won protection from its creditors last week.

The talks with CPP have collapsed, the Financial Times reported, citing a person familiar with a new agreement to sell Spyker cars to North Street Capital. The newspaper did not give any financial details of the latest transaction.

The Financial Times said it had seen a draft announcement from North Street about the deal.

Swedish Automobile chief executive Victor Muller declined to comment on the report when contacted by phone by Reuters.

(Reporting By Aaron Gray-Block; editing by Carol Bishopric)

What do you think?

Click the button below to comment on this article.