Saab Receives Funding from Spyker Buyer but not from Chinese Partners, Administrator Proposes to Terminate Reorganization

The dramatic Saab roller-coaster continues to painfully drag on with good and bad news for the brand. But let's take it in chronologically order.

This morning, Saab's parent company Swedish Automobile N.V. (Swan) said it has accepted new funding from U.S. private-equity group North Street Capital, which is interested in Spyker.

The equity firm is paying US$10 million for 2.39 million new shares Swan while also providing a further US$60 million as a loan that will be "collateralized by a first lien on certain assets of Saab Automobile as well as a second lien on the collateral as pledged to NDO".

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Spyker to be Sold to US-based Equity Firm for €32 million

Swedish Automobile N.V. [Swan] owner of cash-strapped Saab, announced today that it has reached an agreement with US-based private equity firm North Street Capital LP concerning the main terms for the sale of its Spyker luxury sports car business. Read more »

Spyker Squadron

Spyker Squadron

Spyker Peking Paris Concept

Spyker Peking Paris Concept

Spyker Laviolette GT2 R

Spyker Laviolette GT2 R

Spyker C12 Zagato

Spyker C12 Zagato

Spyker C8 Spyder-SWB

Spyker C8 Spyder-SWB

Spyker C8 Laviolette LM85

Spyker C8 Laviolette LM85

Spyker C8 Aileron Spyder 2009

Spyker C8 Aileron Spyder 2009

Spyker C8 Aileron 2009

Spyker C8 Aileron 2009

Spyker C8 Aileron

Spyker C8 Aileron

‘08 Geneva - Spyker C8 Aileron

As promised, Spyker made its appearance at the Geneva Motor Show and they unveiled a new generation of C-line, the C8 Aileron. The Dutch automaker combined the classic and the future in order to provide an attractive design for the Aileron. Spyker C8 is powered by Audi’s 4.2-liter V8 engine which produces 400 HP and it can be yours for only $350,000. Check out the gallery below.