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CPP looking to complete acquisition of Spyker

There has been a delay in the deal that will see Coventry Prototype Panels buy Spyker Cars.

02 September 2011

Coventry Prototype Panels (CPP) is committed to completing the take over of Dutch luxury supercar brand Spyker Cars.

Business negotiations have been ongoing between the two companies for a number of months now and the former is still confident the deal will go through.

Merger and acquisition advisers may be required to push the agreement to the final stages.

Brendan O'Toole, founder and co-owner of CPP - which has been in operation since 1995 - said: "It is unfortunate that the negotiations have been delayed, but we understand the challenges facing Swedish Automobile and are prepared to be patient."

He added he still sees Spyker as an "ideal fit" for his organisation and believes the transaction will be good for both parties.

Mr O'Toole continued by saying significant investment has been made in its Coventry base to ensure workers can build Spyker's flagship C8 Aileron once the deal has gone through.

Posted by David Gleck
 

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