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The Spaminator
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Spyker to be Sold to US-based Equity Firm for €32 million
SEPTEMBER 29, 2011

Swedish Automobile N.V. [Swan] owner of cash-strapped Saab, announced today that it has reached an agreement with US-based private equity firm North Street Capital LP concerning the main terms for the sale of its Spyker luxury sports car business.
North Street Capital LP is based in Greenwich, Connecticut and its managing partner, Alex Mascioli, also doubles as a race car driver.

The Swedish company said it will receive €32 million ($43.6 million USD) “if and when the sale would become wholly unconditional”, adding that "since the Spyker assets arepledged to Tenaci Capital B.V. (Tenaci) the net proceeds of a sale will be used to redeem Swan's debt to Tenaci."

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