Spyker to sell sportscar business image

Spyker, the Dutch luxury sports car maker which last year took over Saab, says it has signed a deal to sell its sports car business to Russian banker Vladimir Antonov.

Antonov, a former Spyker chairman and shareholder, will pay 15 million euros ($21 million) for the maker of the C8 Aileron and other supercar models that retail for more than $200,000, the Zeewolde, Netherlands-based company said today in a statement.

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.

“This transaction will allow Spyker Cars N.V. to focus on the Saab Automobile business exclusively, will eliminate the requirement for us to make further capital investment in the Spyker Business, and will reduce our debt”, Hans Hugenholtz, Chairman of the Supervisory Board of Spyker Cars, said in a statement.

Spyker has struggled to make money and analysts say it needs a strategic investor longer term if it is to achieve its stated goal of turning Sweden’s Saab, which it bought from General Motors in February 2010, into an independent and profitable niche player.