Car Advice
  • Home
  • »  Spyker could die with Swedish Automobile and Saab

Spyker could die with Swedish Automobile and Saab

By Tim Beissmann |

Spyker could join Saab on the automotive scrapheap as parent company Swedish Automibile N.V. (Swan) struggles to find a suitable buyer for the Dutch supercar manufacturer.

Swan is currently in negotiations about the sale of Spyker (its only remaining subsidiary), but admits, based on the current situation, the proceeds of the sale would not be enough to allow it to meet its liabilities in full.

The embattled company concedes if it cannot complete the sale of Spyker or secure further financing for Spyker and/or Swan, it is likely Swan would sink and drag Spyker down with it.

Swan says it is considering all options, including “an orderly, phased wind-down” of itself.

The companies’ prospects were not helped overnight by the resignation of four senior Swan board members. Three members of the supervisory board of Swan – Hans Hugenholtz, Maurizio La Noce and Alex Roepers – and member of Swan’s management board Rob Schuijt stepped down after a “difference of opinion” with Swan CEO Victor Muller over the funding alternatives available to Swan.

The news follows yesterday’s revelation that the receivers of Saab – which filed for bankruptcy on December 19 – are auctioning around 120 production and concept vehicles from the Saab Museum in Trollhattan as they look for fast ways to secure money during the wind-down process.


 

Related Articles

4

Investors spend $4 million to save Saab Museum
The prayers of Saab lovers have been answered, with a group of investors joining forces to save the historic collection of cars at the Saab Museum. Last week, we reported the vehicles in Trollhattan, Sweden, were set to go under the hammer as the fallen brand’s receivers looked for ways to recover quick money. Saab enthusiasts feared th...

15

Turkish equity firm could buy Saab: report
Even though Saab Automobile is bankrupt, Turkish equity firm Brightwell Holdings plans on placing a bid to buy the Swedish car company. Chinese group Zhejiang Youngman is also still showing interest. Brightwell board member Zamier Ahmed says the company is in talks with the administrators in charge of Saab's bankruptcy, recently telling Aut...

3

Saab fans fight to protect museum cars from receiver's auction
Saab fans are fighting to preserve the largest collection of the Swedish brand’s production and concept cars after the bankrupt company’s receivers put the contents of the Saab Museum up for auction. Approximately 120 vehicles housed at the museum at Saab’s headquarters in Trollhattan – including the first car the company ever made,...

10

Investors from India, Turkey could still save Saab
Investors from India and Turkey have emerged as the latest potential saviours of bankrupt Swedish car maker Saab. India’s largest SUV manufacturer Mahindra & Mahindra is reportedly interested in purchasing parts – and potentially all – of Saab Automobile. Bloomberg says the Mumbai-based company is attempting to set up meetings with...

  • Josh

    That’s a bit sad isn’t it?

  • http://www.rear-wheel.com/ zool

    Sad but never heard about this spyker

  • Shak

    GM is really starting to get annoying in all of this. Either let SAAB go to someone who might actually put some effort into transforming the company or buy it back yourself and fix it up.

  • Meccano

    You bet on the ponies and sometimes you loose.  Swedish Automobile’s (Swan) ownership of Saab was (to say the least) and giant and risky money loosing venture that they were ill equipped to take on in the first place. They bet way over their head on that one and it would only be a surprise if the didn’t loose their shirt.   Their shirt being the only asset that they have left which is Spyker that itself has never made money. If Spyker gets sold (as has been the plan for some time now), ok, that marque lives on.  All makes sense until I keep reading that might not be enough to keep Swan alive since, “the proceeds of the Spyker sale would not be enough to allow it to meet its liabilities in full.”  So no more Swedish Automobile, but (sorry) who cares? With Saab in liquidation and Spyker sold what would be the purpose of the holding company Swan?  Besides at this point being ironically named Swedish Automobile, the Netherlands based holding company that will no longer be “holding” anything wants to continue on to do what exactly?