Filed under: Government/Legal, Saab, Earnings/Financials, Spyker
After the Saab sale transaction went through, Spyker Cars CEO Victor Muller held a 34.3-percent stake in the Dutch sportscar maker. And according to local law, having more than 30 percent in equity meant that Muller would be obliged to make a public bid for the rest of the company's shares, so he transferred slightly more than one million shares to a Cyprus-registered company for what looks like safe keeping.
Under the terms of the move, Muller can buy the shares back any time from Dorwing Solution Limited, the company that purchased them, for the same price at which he sold them. Full press release is after the jump.
[Source: Spyker]
Continue reading Spyker CEO Victor Muller reduces voting interest in company below 30 percent
Spyker CEO Victor Muller reduces voting interest in company below 30 percent originally appeared on Autoblog on Fri, 26 Mar 2010 18:20:00 EST. Please see our terms for use of feeds.
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