CPP Global Buys Spyker

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CPP Global Holdings Ltd has announced today that it has signed a memorandum of understanding to buy the Spyker luxury sportscar company from Spyker Cars N.V., which is currently operated by the Dutch EURONEXT. CPP Global Holdings Ltd, a company based in Coventry, UK will buy Spyker for a price of 32 million Euros. CPP Global will pay 15 million Euros immediately upon finalization of the deal to buy Spyker, and the other 17 million Euros will be paid over a six year period. CPP will reorganize Spyker as a subsidiary company, which will also be based in Coventry.

CPP is not a stranger to Spyker. The 250 highly skilled automotive specialist designers, technicians and craftsmen have manufactured chassis and body panels for Spyker since 2000.

In 2009, CPP took the task of fully producing the Spyker C8 Aileron and all future Spyker models.

Over the last 16 years, CPP founder and Managing Director, Brendan O’Toole, has grown the Coventry-based business continuously, and the partnership and support of Vladimir Antonov has seen this growth accelerate within the last two years. The Spyker acquisition is yet another milestone towards a world-class automotive specialist in Coventry, creating more jobs directly at CPP, and



indirectly, through the wide range of automotive specialists based in the area.

Vladimir Antonov, said: "Having created an enviable portfolio of premium, world-class automotive companies and brands over the past two years with CPP, we are convinced that Spyker will flourish within the CPP Group. We are delighted to be bringing more investment and job opportunities to Coventry, and we hope that this further cements its reputation as the heartland of the automotive industry in the UK.”

Brendan O’Toole, Managing Director of CPP Global

Holdings Ltd, said: “This acquisition is very positive news for everyone connected to Spyker. We’re absolutely confident that independent ownership will enable us to rapidly progress an invigorated business plan, to which CPP is fully committed.

“The management of CPP is very excited about the acquisition of the Spyker sportscar business, and the brand is entering a period of major development,” continues O’Toole. “Production of the new Spyker flagship supercar, the C8 Aileron, is progressing well and we are ramping up production of

customer cars at our new purpose-built facility in Coventry. We have well-developed plans to expand the product range further, and the future for the Spyker brand is incredibly exciting.”

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Source: CPP Global Holdings Ltd