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Muller Selling Spyker, Concentrating on Saab

Former Russian partner snaps up sports car maker for $21 mil.

by on Feb.24, 2011

Image By: Len Katz

Victor Muller will focus his attention exclusively on Saab, now.

Intending to focus his energies on his struggling Swedish car operations, Victor Muller is selling off his tiny Dutch sports car company, Spyker.

Muller, who purchased Saab Automobile just over a years ago, will be paid $21 million for Spyker, but could get about $25 million more over the next six years, depending on the success the brand has under its new owners.

The purchaser is Russian businessman Vladimir Antonov, who had previously been Spyker’s chairman and key investor, with a 29.9% stake.  Antonov was forced out of the company when Muller when Muller began discussing the acquisition of Saab from its former owner, General Motors, which refused to negotiate while the Russian oligarch was involved.

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Originally founded a century ago, Spyker collapsed in 1925, the name revived by Muller a decade ago.  It produces an assortment of sleek supercars priced around $200,000 apiece.  In 2009, the last year for which sales numbers are available, the company, based in Zeewolde, Netherlands, sold a total of 36 vehicles.

Spyker went public in 2004 and has consistently lost money since then.

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