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Saab parent company to sell Spyker luxury brand to U.S. firm
Thu, 29 Sep 2011Saab 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.
Good fun at Goodwood
Tue, 06 Jul 2010The 2010 Goodwood Festival of Speed started with a bang--and a bent Jaguar E-Type. But by the end of the weekend, the festival was being acclaimed by both fans and participants as one of the most successful runnings of the annual event so far. As always, the festival took place at the house and grounds of Lord March's sizeable estate in West Sussex, England, being extended to four days this year by the addition of a new “Moving Motorshow.” This is clearly intended to become a regular fixture and a replacement for Britain's cancelled “International” motor show.
Ford agrees to sell Aston Martin
Wed, 14 Mar 2007Ford Motor Company announced this week it has entered into a definitive agreement to sell Aston Martin, its prestigious UK sports car business. The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait. The sale is expected to close during the second quarter and the transaction values Aston Martin at GBP 479 million ($925 million). As part of the transaction, Ford will retain a GBP 40 million ($77 million) investment in Aston Martin.