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U.S. equity firm to invest $70 million in Saab
Thu, 20 Oct 2011Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.
McLaren London: Open for business
Wed, 22 Jun 2011McLaren London - open for business Almost exactly a year on from McLaren’s announcement that the UK will have three McLaren dealers – London, Birmingham and Manchester – the first of those dealers, McLaren London, opened for business yesterday. Operated by Jardine Motors (who may be more familiar as Lancaster), Mclaren London is the ground floor face of One Hyde Park, the mega-bucks apartment block you may best know as the building where £1 billion of apartments have been sold – but no one has moved in. Ron Dennis is probably banking on some of the owners of those apartments – including a Ukrainian Oligarch said to have paid £136 million for his apartment – popping downstairs to take a look at what McLaren has on offer – and bringing along a friend or three.
First Sight: Mercedes-Benz A-Class
Fri, 25 Jun 2004The first generation A-Class was the first front wheel drive passenger car from Mercedes-Benz and its first compact hatchback. Its revolutionary packaging and infamous encounter with an elk made a big impact in 1997, and since then over a million have been sold. Specification The new A-Class maintains its predecessor's innovative sandwich floor concept, where the powertrain moves under the passenger cell in the event of a big frontal impact and thus enables a longer cabin for the length of footprint.