Saab Automobile today announced that Jan Åke Jonsson has decided to retire from his position as President and CEO of Saab Automobile AB (“Saab Automobile”) effective per Spyker Cars N.V.’s Annual General Shareholders meeting to be held on 19 May, 2011.

A search for a successor to Jan Åke Jonsson has been initiated and he has agreed to assist Saab Automobile’s Management with a smooth transition to his successor. He will remain available as such until 1 September, 2011. Until a successor to Jan Åke Jonsson is appointed, Victor Muller will temporarily assume the role of President and CEO of Saab Automobile AB in addition to his role as Chairman of the Board. Read the rest of this entry »

CPP Global Holdings Ltd, a premium coachbuilding company based in Coventry, UK, has signed a Memorandum of Understanding to acquire the assets of the Spyker luxury sportscar company from Spyker Cars N.V. – the Dutch EURONEXT-listed holding company which currently operates the Spyker and Saab Automobile businesses.

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. Read the rest of this entry »