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Pininfarina family to lose control of company

The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.

Saab parent company to sell Spyker luxury brand to U.S. firm

Saab parent company Swedish Automobile plans to sell its Spyker luxury-sports-car brand to U.S. private-equity firm North Street Capital for about $44 million. Spyker has been careful to point out to European news sources that the agreement has not been made final.

Saab 1947-2009: GM 'will close Saab'

By Tim Pollard Motor Industry 18 December 2009 20:33 It's a sad day for Saabphiles, as GM announced – one week to the day before Christmas – that it has failed to find a buyer for Saab. It will begin winding down the Saab operation immediately. There had been a glimmer hope for Saab earlier this month, as supercar maker Spyker stepped in as a possible suitor after similarly small sports car specialist Koenigsegg walked away from a potential deal in November 2009.But GM admitted it could not viably sell Saab to Spyker – and no other bidders were forthcoming.