Our Ed just pointed out that Spyker Cars owns Saab and not the other way round. After a little more digging we’ve come across this news report by the New York Times where it is said that North Street Capital (run by Alex Mascioli, a racing enthusiast himself) has bought Spyker Cars for $43.5 million.

NY Times also reports that the deal is an effort by Swedish Automobile to raise capital to turn around Saab. Proceeds from the sale will ultimately pay off a loan from a Russian businessman, Vladimir Antonov, who had previously sought to buy Spyker.

Victor R. Muller, the chief executive of Swedish Automobile ( formerly Spyker Cars N.V.) will continue in his role.

Source: New York Times

According to a report by the Financial Times, North Street Capital, LP is the supposed new owner of Spyker Cars. Negotiations between Saab and a British and Russian consortium and Vladimir Antonov seemed to have failed and Saab in desperate need of a funding infusion has dropped Spyker Cars into the laps of North Street Capital.

Source: Financial Times via Autoblog