Saab Parent Nears $44M Spyker Deal With PE Firm

Law360, New York (September 29, 2011, 12:09 PM EDT) -- Swedish Automobile NV, which checked its Saab Automobile AB unit into Swedish insolvency proceedings this month, said Thursday that it had a tentative deal to sell its Spyker performance car business to private equity firm North Street Capital LP for $44 million.

The Spyker assets are pledged to Tenaci Capital BV, an investment company created by Spyker CEO Victor Muller, a Dutch tycoon, and any proceeds from the sale would be used to redeem debt owed to Tenaci, Swedish Automobile said.

"North Street has a long-term...
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