Spyker N.V.
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Publicatie datum
20 sep 2007 - 17:01
Statutaire naam
Spyker N.V.
Titel
SALE OF SPYKER F1 TEAM AGREED IN PRINCIPLE
Bericht
Zeewolde, 20 September 2007 - Spyker Cars N.V., Formula One constructor and manufacturer of exclusive premium sports cars, announces that the negotiations to sell its Formula One Team to the consortium of Vijay Mallya and Strongwind have resulted in an initial agreement on the main discussion points.
Both parties entered into an exclusive 30 day negotiation period on the 31st August 2007 to negotiate the possible sale of the Spyker F1 Team to the consortium based upon an initial offer of EUR 80 million. The recent negotiations have resulted in an agreed increased sales price of EUR 88 million. Out of these sales proceeds the following amounts will be paid –
Midland Group (deferred purchase price) : EUR 27.5 million
ABN-AMRO (current account) : EUR 13.5 million
Strongwind (loans) : EUR 17.3 million
Net Creditors (F1) : EUR 13.0 million
Remainder : EUR 16.7 million
TOTAL : EUR 88.0 million
For the sale of the Spyker Formula One team to become final several (legal) conditions still need to be met and discussions continue on these points. The sale details will then need to be approved by the shareholders of Spyker Cars N.V. in an Extraordinary Shareholders’ Meeting to be held on Saturday 29 September 2007. Announcements on specific details of the agreement will be made in due course.
With the sale of the Formula One Team now agreed in principle, the management and Supervisory Board of Spyker Cars N.V. will return to the task of finalizing the internal strategic review and associated refinancing which has been ongoing since May.
Hans Hugenholtz, CEO ad interim, states: “We obviously regret having to sell the Spyker F1 Team, especially after the progress we showed in Spa and the promise of the revised B-Spec car. It has become increasingly clear that we could not continue to operate in both the world of Formula One as well as maintain the investments needed to grow and develop the road car division. Our first responsibility must always be to o
Datum laatste update: 12 januari 2026