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Saab Sister Brand Spyker Sold To U.S. Private Equity Firm, CPP Still Interested

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It wasn't so long ago that talk of Spyker buying, and thereby saving, Saab was the hot news. Since then, the Dutch supercar company has reorganized things, keeping Saab and Spyker separate, while setting the whole thing up under the umbrella of Swedish Automobile.

Things haven't gone all that well for any of them, however, with Saab leading the way, in the midst of bankruptcy action. Now the parent company has decided to break off the Spyker side of the business and sell it to an American private equity firm, according to the Financial Times (subscription required) via Car and Driver.

As you may remember, however, Russian-backed British coachbuilder CPP also made a bid for Spyker and got as far as signing a memorandum of understanding (MOU) with the company earlier this year. That MOU has since expired, but CPP said in a press release today that it is, "still keen to progress our proposed acquisition," and won't count itself out until the sale to the American firm, North Street Capital, is finalized.

What a sale to either company might mean for Spyker is unclear--it could be chopped up and sold for parts, or, like Chrysler under Cerberus management, continued as an ordinary business. However, it does likely mean a quick shot of much-needed cash for Swedish Automobile and its remaining automotive operation: Saab. That, in turn, is good for Saab fans and, perhaps, the market as a whole.

We'll keep you posted on details as they develop.

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