Car maker Spyker is to sell its Spyker sports car business to Russian business investor Vladimir Antonov.
The company said in a statement on Thursday the purchase price would be €15m, plus a maximum €17m from the future profits up to 2016.
The proceeds will be used to reduce Spyker Cars debt. Spyker now plans to focus on Swedish car maker Saab which it bought last year. The Dutch company also said it plans to change its name shortly but did not give further details.
‘Without Spyker we would not have been able to acquire Saab Automobile last year but
the Spyker business soon became a small fish in a large pond as a result,’ said CEO Victor Muller.
Antonov is a long-time backer of Spyker but was kept out of the Dutch firm’s deal to buy Saab because of concerns over his suitability as a shareholder in the new group.
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