Swedish Automobile N.V., the owner of Spyker Automobile business, decided not to sell the dutch brand to CPP, because they have a better offer from American firm North Street Capital.

However, CPP will continue to offer its support in future engineering programmes, body and chassis production, and final trim and assembly of Spyker models. They had the Browns Lane plat ready for production of new Spykers, so they want to stay in business.

That said, CPP has more interesting projects at hand, even if they get nothing from Spyker. They will make the next generation all-terrain supercar, the Bowler EXR, and the recently-announced new Jensen Interceptor, as well as their usual coachbuilt and small-volume cars.

Brendan O’Toole, founder, managing director and co-owner of CPP, said: “Although a February 2011 Memorandum of Understanding between CPP and Spyker’s owner, Swedish Automobile, lapsed in June 2011, we have remained patient and discussions have continued.  Until we are informed that that Swedish Automobile is no longer willing to discuss the Spyker sale, we are still keen to progress our proposed acquisition.”

After the deal with Hawtai collapsed last week, Saab and Spyker announced they will be looking for a new partner in China, and they seem to have found one. They’ve just signed a Memorandum of Understanding (MoU) with Pang Da Automobile.

Pang Da is China’s largest publicly traded automobile distributor with over 1100 dealerships nationwide. So does this mean the deal is official? Well not yet, the previous deal with Hawtai showed everything can be broken in the last minute!

But the promises they’ve made in this  MoU includes a strategic alliance consisting of a 50/50 distribution joint venture and a manufacturing joint venture (MJV) for Saab branded vehicles as well as for an MJV-owned brand (the so-called ‘child brand’) in China. Saab Automobile will have up to 50 percent in the MJV, with Pang Da and a to-be-selected manufacturing partner owning the remaining shares.

Based on this agreement, Pang da will pay a EUR 30 million payment for the purchase of Saab and another 15 million in 30 days. Additionally, Pang Da will take an equity stake in Spyker for a total amount of EUR 65 million at EUR 4.19 per share.

Here’s more details, facts and figures:

* Spyker, Saab Automobile and Pang Da signed an MoU on the formation of a joint ventures with respect to distribution and manufacturing in the Greater China market, subject to definitive transaction documentation and certain regulatory approvals.
* Pursuant to the MoU, Pang Da will transfer EUR 30 million to Saab Automobile as payment for the purchase of Saab vehicles and an additional EUR 15 million within 30 days for the purchase of additional vehicles depending on certain circumstances.
* Pang Da will take an equity participation in Spyker for a total amount of EUR 65 million at EUR 4.19 per share representing up to 24 percent of Spyker’s outstanding share capital on a fully diluted basis.

The MoU between Spyker, Saab Automobile and Pang Da contains the principles on which the parties will establish a 50/50 joint venture for the distribution of Saab-branded vehicles in China.

The EUR 65 million share subscription by Pang Da will secure Saab Automobile’s medium term funding.

Some of the transactions following the MoU are subject to agreement on definitive transaction documents and certain conditions, which include consents from certain Chinese governmental agencies, the European Investment Bank, GM and the Swedish National Debt Office.

With the receipt of Pang Da’s EUR 30 million initial payment, Saab Automobile aims to come to an agreement on payment and delivery terms with its suppliers as it secured the liquidity that is required to restart production as soon as possible. In order to improve lead times to customers and dealers on existing and future orders, Saab Automobile will work together with its suppliers to minimize any impact from the recent production stop.

Victor Muller, CEO of Spyker and Saab Automobile said: “Both parties are confident that this partnership allows Saab Automobile and Pang Da to create a strong business, initially in the distribution and subsequently in the manufacturing of Saab vehicles in China.

“Pang Da is a forward-looking, profitable and well-capitalized public company that, as the single largest automobile distributor in China, sees enormous potential for our brand in their home market. We will work hard to finalize the relevant agreements and firmly establish Saab in the world?s fastest growing car market. Pang Da taking a substantial equity stake in Spyker underlines their confidence in our plans for the future and China in particular.”

Mr. PANG Qinghua, CEO of Pang Da, said: “This partnership allows us not only to distribute Saab, the iconic European premium brand, in China but also to set up a manufacturing joint venture which will further enhance the competitive position of the Saab brand in China.

“With the new products Saab has launched since it became an independent car manufacturer early last year, such as the all new Saab 9-5 and the Saab 9-4X which have been widely acclaimed, and not in the least the upcoming successor to the current Saab 9-3, we believe the timing is perfect for Saab to enter the Chinese market. Our size, financial strength and competence in addition to our ability to move fast will be crucial to Saab?s success in China.

“Having just gone public ourselves three weeks ago, we are delighted to have the opportunity to become a substantial shareholder in Spyker, Saab’s parent.  We very much look forward to collaborating with Saab’s management to successfully enter our promising home market.”

Every time Saab is about get up, things go wrong somehow. A couple of days ago we told you about their deal with the Chinese Hawtai Motors which could save the company. But guess what.

They are now reporting that the deal has been terminated, because: “Since it became clear that Hawtai was not able to obtain all the necessary consents, the parties were forced to terminate the agreement with Saab Automobile and Spyker with immediate effect. The parties will continue their discussions about a possible cooperation, however now on a non-exclusive basis,” says Spyker, current owner of Saab.

Saab and Spyker will continue negotiation with Hawtai in hope to arrive at a new deal, but they are also considering other alternatives: “Spyker and Saab Automobile continue to work on securing short and medium term funding. To that end Spyker and Saab Automobile are negotiating equity and debt financing and/or technology licensing with various (strategic) Chinese partners,”

Saab is still tryng to secure a 29 million euro loan from European Investment Bank. Once completed, they will pay debts to suppliers and the production will be restarted.

source: Autonews

The guys at the Coventry-based specialist coachbuilder CPP Global Holdings must be plotting something big because just a few weeks after acquiring Spyker car business from the Dutch company, they’ve announced purchase of the British Bowler.

Now if you watch Top Gear Bowler is a familiar name to you. They used to make tough and rugged off-road racing cars based on Land Rovers. They had their own racing series as well. More recently they got into the business of making road-going versions of their race cars which resulted into the Bowler Nemesis EXR based on Range Rover Sport. This high-end coupe RR is capable of what the racing Bowlers are capable of, but it’s also very luxurious and goodlooking as well.

Now that CPP own both Spyker and Bowler, one would imagine they are going to make a sort of off-road supercar that can do 200 miles an hour on gravel!

Press Release:

Specialist coachbuilder CPP acquires Bowler, manufacturer of the Nemesis high performance cross-country racer

The combined management team has exciting plans to develop the brand and products
CPP Global Holdings Ltd, the specialist coachbuilder based in Coventry, UK, has acquired Bowler Off Road Limited, the Derbyshire-based manufacturer of the Nemesis high-performance cross country racer, for an undisclosed price.

The acquisition was completed in January 2011 following several months of positive dialogue between CPP and Bowler and the completion of a due diligence process.

Brendan O’Toole, managing director of CPP, said: “This acquisition is extremely positive news for fans and customers of Bowler vehicles. I have followed the brand closely for several years and am delighted to have the opportunity to take the Bowler brand to new heights on the basis of very exciting plans. I’m looking forward to working with Drew Bowler and the exceptionally talented team at Bowler to bring these plans to fruition. This development is another step in CPP’s strategy to grow as a collection of complementary specialist automotive businesses.”

Drew Bowler, managing director of Bowler, said: “I’m very excited that we are joining the CPP group of companies. Bowler will expand and reach its full potential thanks to the access we now have to greater resources in a number of respects: finances, the highly skilled workforce, its technical capabilities and advanced facilities. We will continue to do what we do best, which is developing, engineering and racing our cars. CPP will bring first-rate commercial and manufacturing expertise to our business, ensuring it meets the quality and integrity that our customers will expect. And there are dramatic plans for the business over the longer term.”

Bowler was founded by Drew Bowler in 1999 and produces its Nemesis high performance off-road racer, based on current Land Rover technology, to meet the FIA T1 specification for the World Cup Cross Country Championship. Several Bowlers run by private customer race teams have completed the gruelling annual Paris-Dakar Rally over the last decade.

Development and engineering will remain at Bowler’s current facilities in Belper, Derbyshire. Production, including of the Nemesis EXR road-going variant from early 2012, will be transferred to CPP in Coventry.

Further plans will be announced in due course.

CPP’s acquisition of Bowler follows an announcement of 24 February 2011 that it signed a Memorandum of Understanding to acquire the assets of the Spyker sports car business from its publicly-listed holding company, Spyker Cars NV.

As we had in the news a few days ago Spyker is in the middle of negotiations to sell the entire car business to a Coventry-based coachbuilder in order to focus on Saab. That didn’t stop the motorsport division from working on ambitious projects though.

They just announced development of the C8 Aileron GT racing car fro 2012 season. Based on Spyker’s new flagship C8 Aileron luxury supercar, the new GT racer will be designed and developed to the ACO’s new GTE specifications. That’s all we know abut this good looking race car for now. We have to wait and see how that deal will go down with the Brits.  Spyker has a rather long history in GT racing with C8 Laviolette GT2R racer. We hope the new owners boost the brand’s motorsport activities!

Spyker Squadron Managing Director, Peter Van Erp, said: “We are taking a racing sabbatical this year to concentrate our resources on developing a new GT racer based on Spyker’s new C8 Aileron supercar, instead of continuing to spend money on a car at the end of its development cycle. For the long term future of Spyker Squadron, and for its role in the promotion and technical development of Spyker road cars, it’s a positive and strategically important step.

“We will develop the car for the new GTE class, although after its first season we will assess whether there is sufficient demand to develop a variant to FIA GT3 specifications. This would be relatively straightforward and would increase the potential customer base for the car and associated race support package. We are already attracting customer race teams wishing to buy an off-the-shelf car, with enquiries arriving from Europe and the Far East,” continues Van Erp.

As Saab s celebrating its first year of independence, their owner Spyker is selling its whole car business to CPP Global Holdings, a premium coachbuilding company based in Coventry, UK.

Now we and some other people thought Spyker is doing well when they acquired Saab, and to be honest they are. So this decision is a bit surprising. Of course the owners of the Dutch brand  have made lots of weird decisions throughout the years. Like that time when they decided to launch an F1 team and blew up a big pile of money with no good outcome. This is what happens when you make drugs legal in a country!

The purchase price would be 32 million Euros, 15 million Euros of which would be paid immediately upon the finalisation of the deal, with the remaining 17 million Euros to be paid over a six year ‘earn-out’ period.

About CPP:

CPP is a world-class British coachbuilding company with a workforce of 250 highly skilled automotive specialist designers, technicians and craftsmen. It has vast experience working with global luxury car brands, by adapting standard vehicles, or undertaking full production of ultra-low volume standalone models. Over the last 16 years, CPP founder and Managing Director, Brendan O’Toole, has grown the Coventry-based business continuously, and the partnership and support of Vladimir Antonov has seen this growth accelerate within the last two years. The Spyker acquisition is yet another milestone towards a world-class automotive specialist in Coventry, creating more jobs directly at CPP, and indirectly, through the wide range of automotive specialists based in the area.

CPP will structure Spyker’s assets into a new subsidiary company, to be based at CPP’s Coventry headquarters. CPP has produced chassis and body panels for Spyker since the brand’s re-introduction in 2000. In 2009, it signed an agreement with Spyker to undertake full vehicle production of the C8 Aileron and all future Spyker models at a new and dedicated facility in Coventry. Production of the C8 Aileron for customer deliveries is currently being ramped-up.
Vladimir Antonov, said: “Having created an enviable portfolio of premium, world-class automotive companies and brands over the past two years with CPP, we are convinced that Spyker will flourish within the CPP Group. We are delighted to be bringing more investment and job opportunities to Coventry, and we hope that this further cements its reputation as the heartland of the automotive industry in the UK.”

Brendan O’Toole, Managing Director of CPP Global Holdings Ltd, said: “This acquisition is very positive news for everyone connected to Spyker. We’re absolutely confident that independent ownership will enable us to rapidly progress an invigorated business plan, to which CPP is fully committed.

“The management of CPP is very excited about the acquisition of the Spyker sportscar business, and the brand is entering a period of major development,” continues O’Toole. “Production of the new Spyker flagship supercar, the C8 Aileron, is progressing well and we are ramping up production of customer cars at our new purpose-built facility in Coventry. We have well-developed plans to expand the product range further, and the future for the Spyker brand is incredibly exciting.”

Spyker, the Dutch supercar maker who recently acquired Saab, has launched a limited edition timepieces collection, just in time for Christmas. Spyker chronographs celebrates the brand’s 24 Hours of Le Mans participation, and have an exquisite design that resembles the style of their high-end cars. We’ve seen a picture of this model with carbon fiber case, and it was superb. Prices ranging from US$ 9,750 / € 7,500 to US$30,500 / € 23,500.

Designed and engineered by renowned watch and luxury goods expert, Thierry Chaunu of Expression D’Artistes International S.A., the Spyker-branded chronographs are available in solid 18K grey or rose gold finishes, each of which is limited to a run of 250, or in polished steel or matt black titanium finishes, each of which is limited to a run of 1000 each.  The quilted leather bracelets, available in Dutch Spyker Orange, Black Anthracite or Blanc de Blanc white, are hand-stitched in France using Royal Dutch Hulshof leather, the very same as the hides that are specified for Spyker’s supercar interiors.

As you’d expect from a timepiece entirely manufactured in Geneva by the very best watchmakers and craftsmen, each boasts meticulous and precise detailing. The bezel carries Spyker’s timeless Latin motto: NULLA TENACI INVIA EST VIA – ‘For the tenacious no road is impassable’ – while the crownreplicates the Dutch brand’s wire-spoke and propeller bonnet badge. The chronographs’ pushbuttons mimic Spyker exhaust pipes, while the steel “bouchonné” dial – complete with gauges indicating hours, minutes, seconds, and 42-hour power reserve – replicates the turned aluminium finish of the luxury supercar’s dashboard.  Even the Valjoux caliber 7750 automatic mechanical movement sports a rotor that is inspired by the design of the Spyker C8 Aileron’s Rotorblade wheels. These exclusive watches are water resistant to 100 metres and are individually numbered.

We are huge fans of Jay Leno’s Garage and his videos! Well, not all of his videos to be honest, but every now and then he films a special car, and this latest video is one of them. This time Jay gets gets to test the Dutch supercar Spyker C8 Laviolette. Leno has driven a huge number of very great cars, but even he is kinda baffled by the extraordinariness of Spyker. Don’t miss this video, specially as it’s shot in a great part of the Garage which looks like heaven to me!

General Motors and Dutch supercar maker, Spyker Cars NV finally reached an agreement on the Saab deal after any ups and downs! Apparently, Spyker will pay GM $74 million in cash in two installments, yet GM retains $326 million worth of redeemable preference shares in the Swedish company. So the actual worth of the deal is $400 million. The new company will be named  Saab Spyker Automobiles. Anyhow, it’s good to hear that Saab is saved, for now!

Press Release:

General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.”Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.

“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this

unique and iconic brand, and we’re all happy for the positive outcome,” Smith said.As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward.  The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals.  Other terms and conditions specific to the sale will be disclosed in due time.

The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank.  Assuming quick action, the transaction is expected to close in mid-February, and previously announced wind down activities at Saab will be immediately suspended, pending the close of the transaction.

“Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand,” added Nick Reilly, president, GM Europe. “We’ve worked with many parties over the past year, including governments and investors, and I’m very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward.”

Feast your eyes on the new generation of Spyker C8 called the Aileron. This beautifully crafted Dutch supercar looks absolutely fantastic, it has less lunacy than the previous C8, wish was like a fat fish in a funny hat!, but the Aileron is more refined and elegant. And the interior is even better. Whoever designed this car has been very very high! It comes from Amsterdam afterall…!

Spyker is not a car really, it’s more of a fashion accessory. So it really doesn’t mater how fast it is or how it goes around a corner. But since bold numbers are good for showing off  to your golf mates, Spyker provides some good figures. Aileron uses an Audi-derived 4.2 liter V8 developing 400 horsepower, it’s rear-wheel-drive and has a six-speed manual gearbox and yes you still get that magnificent exposed gear shaft! Aileron runs on 19-inch 10-spoke Aeroblade designer wheels and has AP-racing Carbon Ceramic braking package.

These are the pictures of the actual production Aileron which you can buy. And if can’t, well… you can still enjoy its beauty!