Tag Archives: zhejang youngman

Chinese Automaker Zhejiang Youngman to Buy 29.9% of Spyker

Chinese automaker Zhejiang Youngman will invest Euro €10 million in Spyker and take 29.9% holding of the company. A series of transactions starting next week will involve the purchase of 6.7 million Class A shares of Spyker at €0.05 per, as well as a loan of roughly €3.3 million to the Dutch company. Two new joint ventures to develop and manufacture Saab based vehicles will also being formed. In a statement issued this morning, Youngman said it will not increase its position further and has no intention of taking over Spyker – but that depends on which company you are looking at. Continue reading

Posted in auto news, new vehicle, news analysis, people | Tagged , , , , , , , , , | Leave a comment