as euronext swan industry automotive founded 1880 headquarters zeewolde netherlands key people victor muller ceo and president hans hugenholtz chairman products automobiles revenue 819.2 million 2010 1 operating income 140.1 million 2010 1 profit 218.3 million 2010 1 total assets 1.078 billion end 2010 1 total equity 206.5 million end 2010 1 number of employees 3 830 fte average 2010 1 subsidiaries spyker p2p 2012 present 2 spyker phoenix 2012 present spyker cars 1999 present 3 saab automobile 2010 2011 4 website http www.spykernv.com spyker n.v. formerly known as spyker cars n.v. and swedish automobile is a dutch based automobile company that produces high end sports cars . it is the holding company of the spyker cars marque . in 2010 the company acquired swedish car manufacturer saab automobile from general motors . 5 6 in september 2011 spyker announced the impending sale of its supercar division to greenwich connecticut based north street capital 3 and subsequently changed its name to swedish automobile . 7 however it has since been revealed that the transaction did not occur leaving the future of spyker uncertain . 8 contents 1 history 1.1 spyker cars 1.2 proposed sale of spyker cars 1.3 acquisition and bankruptcy of saab automobile 1.4 aftermath 1.5 joint ventures with youngman 2 motorsport 2.1 spyker f1 2.2 spyker squadron 3 references 4 external links history edit spyker cars edit the reborn company was founded by victor muller and maarten de bruijn in 1999 and since 2000 spyker has been building exclusive sports cars like the c8 spyder and the c8 laviolette with its elegant glass roof . 9 spyker s history of producing aero engines is reflected in details in these new cars as well as in the logo . 9 the spyker c8 at salon prive london england . the c8 laviolette and c8 spyder have a 4172 cc audi v8 engine delivering 400 bhp 298 kw ; 406 ps acceleration 0 60 mph in 4.5 seconds and a top speed of 300 km h 190 mph . 10 11 on july 14 2005 it was announced that the c8 was approved for sale on the united states market . 12 13 between 2002 and 2006 spyker built the c8 double 12 s which was available from the factory with 5 different levels of performance called stage i 400 h.p. through stage v 620 h.p. depending on the customer s need for performance . 14 between 2003 and 2007 spyker built the c8 spyder t with the twin turbo being developed in conjunction with cosworth from england . 15 these engines were capable of 525 h.p. and acceleration times of 4.0 seconds . 16 17 in 2005 the head designer and founder maarten de bruijn left the company and founded silvestris aquamotive which builds aluminum space frame speed boats . 18 19 in 2006 spyker built the c12 la turbie with an v12 engine capable of 500 horsepower and acceleration from 0 60 mph in less than 4 seconds . 20 21 in september 2006 spyker bought out the midland f1 team . 22 the team competed in the final 3 races of the 2006 season as spyker mf1 . in the 2007 the team competed as spyker f1 using engines supplied by ferrari . driver adrian sutil was paired with christijan albers until the european grand prix where the latter was replaced by reserve driver markus winkelhock ; the team then signed sakon yamamoto to fill in the slot for the rest of the year . the team itself had minimal success suffering from multiple retirements including double retirements in malaysia canada and brazil before sutil scored the team s first and only point in japan . at the end of the season the team was sold to a consortium named orange india led by vijay mallya and was subsequently renamed as force india . 23 on may 27 2004 spyker cars listed on the euronext amsterdam stock exchange at 15.50 falling to a low of 8.28 in april 2005 . 24 the stock rebounded sharply in early 2006 to over 22 per share . 25 26 early in 2007 the stock showed a sharp decline to levels beneath 13 because of financing issues . 24 as a result several stock issues were announced to big investors . notably all shares have been sold at higher prices than the market price at the moment of announcement . citation needed on november 13 2005 spyker cars and mubadala development company a principal investment company wholly owned by the government of the united arab emirates 27 announced their strategic alliance with mubadala acquiring 17 % of spyker 28 mubadala has a strong relationship with sports cars also controlling 5 % of ferrari . 29 30 on september 16 2013 spyker cars parent spyker n.v. lost its listing on euronext amsterdam after failing to undergo a restructuring agreement . 31 in 2007 spyker in collaboration with the italian car design firm zagato produced the c12 zagato based on the c12 la turbie but with more appealing body work faster speeds and the zagato trademark roof bubbles . 32 33 this is perhaps the more exclusive spyker car to date . 34 in november 2009 spyker announced that it would be moving production from zeewolde to whitley coventry where assembly would be done in partnership with cpp manufacturing . 35 36 uk production began in february 2010 . 37 proposed sale of spyker cars edit in february 2011 it was announced that swedish automobile the dutch owner of saab automobile agreed to sell its sports car unit to vladimir antonov . antonov a former spyker chairman and shareholder is expected to pay 15 million euros 21 million for the company . 38 39 however in march 2011 the deal fell through 40 with spyker s manufacturing partner cpp manufacturing placing a bid but this deal fell though later that month . 41 42 in september 2011 it was announced that swedish automobile would sell spyker cars in an all cash offer to an american private equity and hedge fund north street capital for 32 million 41 million . 43 44 however according to a recent announcement swedish automobile is again offering spyker cars up for sale it was revealed that this sale did not actually occur with north street capital still attempting to close the deal . 45 46 acquisition and bankruptcy of saab automobile edit 2011 saab 9 5 the first new saab released under spyker ownership . upon the failure of an expected deal by koenigsegg group ab to purchase saab automobile from general motors late in november 2009 spyker cars began talks with gm to take over saab . however with a stated deadline of the end of 2009 for completion of the sale it was announced on december 18 that gm and spyker after carrying out an extensive due diligence effort had determined that a satisfactory deal was not possible and gm would begin the process of a staged wind down of saab automobile . 47 spyker cars shortly thereafter made another offer that is said to solve all the problems that gm pointed at . gm had until december 21 to respond 48 49 but the deadline was later extended to december 23 and then indefinitely . 50 as negotiations continued with gm another rival bidder for saab automobile emerged luxembourg based investment firm genii capital backed by f1 mogul bernie ecclestone . however following weeks of negotiations it was announced by genii on january 23 2010 that spyker was on the brink of coming to an agreement . this was also confirmed by spyker ceo victor muller who said gm and spyker were meeting in stockholm to approve the deal . 51 muller closed the deal against expectations to buy swedish automaker saab from general motors on january 26 2010 in a deal worth us 400 million . 4 52 following the deal the company spyker cars n.v. was later renamed to swedish automobile n.v. the delays in the takeover were attributed to an investigation by the swedish monetary agency riksg lden and the swedish security police s po where the agencies found connections between the family of major shareholder vladimir antonov and organized crime as well as involvement in money laundering . s po reported their findings to the united states federal bureau of investigation and shortly thereafter gm dropped further talks about the deal until a company controlled by victor muller called tenaci purchased antonov s share in the company . antonov also announced that us25 million has been given to spyker as a loan to purchase saab automobile from general motors . he confirmed that the loan will be provided by convers bank a bank owned by the antonovs and that gm was fully aware of that . 53 antonov can not invest in spyker until 2016 when gm s preference share holding ends . another way he could enter earlier would be permission by general motors . antonov stated i m not involved in crime and i ve initiated an investigation as to why gm thinks i am . 53 on 26 january general motors gm confirmed that spyker and gm had come to an agreement allowing spyker to purchase saab 54 subject to regulatory and government approval ; the sale was completed on february 23 2010 . 55 general motors will continue to supply saab with engines transmissions and also completed vehicles in the shape of the new saab 9 4x from gm s mexican factory . the deal includes a loan from the european investment bank guaranteed by the swedish government . it comprises us 74m in cash up front payable to gm by july 2010 and shares in spyker to the tune of us 320m . on february 23 2010 spyker cars closed the deal to buy saab automobile from general motors . spyker and saab operate under the parent company swedish automobile named spyker cars n.v. 56 on june 8 saab automobile said it had stopped production due to an insufficient supply of parts . this occurred only two weeks after resuming production following a seven week hiatus . the supply of parts stopped because saab did not pay its suppliers . production was due to start again on august 9 . 57 the company changed its name to swedish automobile n.v. on june 15 2011 after receiving approval at its annual shareholder meeting . 7 on june 23 saab announced that it was unable to pay june salaries to the entire workforce of 3 800 due to lack of funding . 58 59 the trade union if metall gave saab seven days to pay the salaries to their employees ; otherwise if metall threatened to force a liquidation of the company . 60 61 on june 29 saab employees were paid . 62 on october 28 2011 it was reported that the chinese car maker youngman ltd. and the chinese automotive retailer pang da automobile trade co. had agreed a joint 100 million us 140 million takeover of saab automobile and its uk dealer network unit from swedish automobile with youngman and pang da taking 60 and 40 percent stakes respectively . 63 64 65 saab s restructuring process was granted and the plan was that in 2014 the company would have had a positive equity . the restructuring process would have removed 500 employees from saab saving about 100 000.00 according to the restructuring plan . 66 general motors rejected the deal with youngman and pang da on november 7 2011 although unsuccessful discussion to convince gm continued for a month . on december 19 2011 chairman victor muller was forced to file saab automobile for bankruptcy following the failed buyout by a chinese consortium which was blocked by former parent gm to prevent technology transfer . 67 68 on 16 april 2012 a meeting on saab s bankruptcy was held at the district court of