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Swedish Automobile, the owner of cash-strapped Saab, is selling its sports car brand Spyker, reports Deutsche Welle.The Dutch automotive company is looking to sell assets to keep the Saab brand afloat. Saab filed for bankruptcy protection earlier this month, only to have the initial filing rejected. However, a Swedish court eventually grant the car manufacturer protection from creditors last week.
Under a conditional agreement, U.S. private equity firm, North Street Capital, will pay about $43 million for the niche sports car brand. Spkyer produces between 20 and 70 cars a year, each costing about $270,000.
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