Swedish Automobile considering Spyker sale image

Swedish Automobile said it may sell its Spyker sports car business after Saab, its other brand, declared bankruptcy.

CEO Victor Muller said that options for the future of Swedish Automobile (Swan) are being analyzed, adding that discussions on a possible sale of the Spyker business were still going on.

“However, retaining the Spyker business under Swan and expanding that business through acquisitions is an alternative we are considering,” Muller said in a statement. The executive’s comments came after some members quit Swedish Automobile’s board because of disagreements over funding.

Supervisory board members Hans Hugenholtz, Maurizio La Noce and Alex Roepers stepped down, while Rob Schuijt has resigned from the management board with immediate effect, Swedish Automobile announced in a statement today.

“The decision to step down was made as a result of a difference of opinion with Swan’s CEO Victor Muller as to the funding alternatives available to Swan after the recent bankruptcy of Swan’s subsidiary Saab Automobile AB and the future of Swan and its remaining subsidiary Spyker,” Swedish Automobile said.
Saab is currently under administration after the carmaker declared bankruptcy in late last year.