Spyker sells its sports car business for $44 million

2010 Spyker C8 Aileron Spyder
2010 Spyker C8 Aileron Spyder

Now here is something we didn’t see coming at all. A premium coachbuilding company based in Coventry, UK has signed a Memorandum of Understanding to acquire the assets of the Spyker Cars’ sports car business. The move comes as production of the Spyker C8 Aileron flagship supercar ramps-up.

The purchase price for Spyker’s sports car business will come in at a total of 32 million euros ($44 million USD), 15 million euros ($21 million USD) of which would be paid immediately upon the finalization of the deal. The remaining 17 million euros ($23 million USD) will be paid over a six year ‘earn-out’ period.

CPP is no stranger to the supercar business and is certainly no stranger to Spyker’s sports cars. The company 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.

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

Just for those of you wondering, the sale does not include Saab.

– By: Omar Rana