Spyker in talks with Lithuanian investor (update)

Troubled luxury car maker Spyker announced on Tuesday that it is in exclusive talks with the Lithuanian bank, Snoras Group, on refinancing the company.

Spyker’s shares rose 8% to €4.05 on the news which was published just before the stock market opened.
Spyker says it expects to reach a deal with Snoras in 10 days and has suspended discussions with other potential investors including Lichtenstein-based firm ACI with which it a letter of intent was signed earlier this month.
Snoras, which is part of the Russian Convers Group, could become Spyker’s largest shareholder with a 29.9% stake says ANP news service. At present the Mol family is the biggest shareholder with an interest of around 28%, says ANP.

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