Spyker Cars NV, the parent company of the Spyker F1 team, is going to have to answer questions about its activities from the Autoriteit Financiele Markten (AFM), the Dutch stockmarket regulator, which has indicated that it has doubts about Spyker’s 2006 financial statements and whether these comply with International Financial Reporting Standards (IFRS) rules. GrandPrix.com
Indian tycoon Vijay Mallya said on Monday he was determined to bring a Formula One race to his country after confirming he had bought a 50 percent stake in the Spyker team.
“Owning an F1 team now, I am more than keen to bring it to India,” said Mallya, a member of parliament who owns the United Breweries (UB) group and Kingfisher airlines. AFP
Spyker’s director of Formula One, Michiel Mol, has teamed up with Vijay Mallya to make an ¤ 90 million bid for the cash-strapped team.
“This offer has been accepted by the board of Spyker Cars and exclusivity has been granted to the consortium Orange India Holdings to proceed with due diligence.to achieve completion within 30 days,” the partners said in a joint statement late on Friday. Business-Standard
A $15-million payment is scheduled to be made to Midland on September 15 and an additional $23-million remains outstanding. Schnaider said last month he would consider several options, including taking over the team temporarily, if it meant keeping the opeation afloat.
The news of the offer comes on the same day Spyker Cars announced it had lost more than $39-million US to date, which includes a $17.7-million US loss related to the Spyker F1 team. TSN.ca
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