Spyker sale to Mallya consortium now complete

Fri, 5 October 2007, 11:37

The sale of the Dutch formula one team Spyker is now definitively complete.

More than four weeks ago, a consortium led by Indian billionaire Vijay Mallya and Dutch businessman Michiel Mol made a bid for the Silverstone based team, that was accepted by the financially embattled sports car maker after an increase of the price to 88m euros.

Spyker, which bought the team from Midland only thirteen months ago for (US) $106.6m (now 75.6m euros), said on Friday that the sale is final.

“After signing of the official documentation, management of the Spyker formula one team has been handed over to the new owners: Orange India Holdings,” the Dutch company confirmed in a statement.

You may also like