New Abu Dhabi shareholder in Spyker Cars NV
Spyker enters strategic alliance following acquisition of a 17% stake
by Mubadala Development
Abu Dhabi, November 14th, 2005 - In a ceremony held at the Emirates Palace Hotel in Abu Dhabi on 13 November 2005 and witnessed by HE Dr Jan Peter Balkenende, the Prime Minister of the Kingdom of the Netherlands and Minister of General Affairs, Spyker Cars NV (Spyker), manufacturer of high-quality exclusive sports cars and Mubadala Development Company (Mubadala), a principal investment company wholly owned by the Government of Abu Dhabi, have announced their strategic alliance whereby Mubadala shall acquire 625,000 newly issued shares at € 12 Euro per share equivalent to approximately 17% stake in Spyker Cars, a publicly traded company in the Amsterdam Stock Exchange.
The Mubadala investment enables Spyker to engineer and develop a complete new product line for a Super Sports Utility Vehicle, the Spyker D12 Peking-to-Paris, which will be introduced at the Salon d'Automobiles of Geneva in March 2006.
His Excellency Khaldoon Khalifa Al Mubarak, Chief Executive Officer of Mubadala said: “Mubadala’s investment in Spyker Cars is aligned with our track record of being involved with premier global companies and brands who are the leaders in their fields. We are looking forward to support Spyker Cars in their new product development efforts and to actively pursue other related investment opportunities, which could lead to the creation in Abu Dhabi of leading edge industrial clusters in addition to high tech knowledge centers”.
His Excellency Dr. Balkenende said: “We welcome the alliance between Mubadala and Spyker because it underlines foreign investment in Dutch technology and ingenuity. Our government enthusiastically supports entrepreneurship as one of the drivers of our economy”.
Victor Muller, CEO of Spyker Cars said: “Having Mubadala as a strategic partner is a milestone in the history of our company. Not only will this partnership enable Spyker to fundamentally strengthen its business by developing a second product line next to our sports cars, it will also pave the way for Spyker in the Middle East and North African markets. It is set to bring us new strategies for a range of developments such as the creation of a high-tech production facility in Abu Dhabi for chassis and bodies in white. Also an automotive training and education centre, as well as an off-the-road driving school supporting brand experience and merchandising could be envisaged. It goes without saying that we are extremely proud to have formed this valuable partnership with Mubadala”.
Mr. J.H.M. Lindenbergh, Chairman of the Supervisory Board of Spyker Cars said: “This alliance is great news for Spyker’s existing shareholders, since it shows continued international interest in Spyker and secures the second product line of the company. We shall welcome the opportunity to expand the Supervisory Board with a Mubadala representative at our next Annual General Meeting, thus benefiting from Mubadala’s international expertise and networks”.
Mubadala has been granted the right to pro-rata participate in future share issues, if any, for a period of two years from the closing date.
FOTO: Spyker’s CEO, Victor R. Muller and His Excellency Khaldoon Khalifa Al Mubarak, CEO of Mubadala, watch Mr. Hessel Lindenbergh, Chairman of the Supervisory Board of Spyker Cars, sign the alliance agreement. His Excellency Dr. J. P. Balkenende and His Excellency Ahmed Ali Al Sayegh, Board Member of Mubadala look on.
Mubadala Development is a Public Joint Stock company, established and wholly owned by the government of Abu Dhabi with a mission to invest in commercially-viable, strategic, industrial and commercial partnerships.
The company’s portfolio of international investments includes a 5% stake in Ferrari, a stake in nine oil exploration blocks in Libya, and a 25% stake in the Dutch fleet management giant LeasePlan Corporation, while its local and regional investments include a 51% majority stake in Dolphin Energy and shares in many other companies, such as Aldar Properties, National Central Cooling Company, Abu Dhabi Ship Building, Imperial College London Diabetes Center in Abu Dhabi, Injazat Data Systems, and Tanqia. Mubadala is also involved in a Public-Private Partnership to develop the UAE University’s new campus in the city of Al Ain.
Spyker Cars N.V. is a publicly held company and listed at the Amsterdam Stock Exchange, Euronext Amsterdam (Eurolist, ticker symbol SPYKR) since May 2004. Since its rebirth in 2000, the company has established a strong foothold in the super car market niche.
Spyker sports cars are hand built by dedicated craftsmen using the very best materials available. Spyker is carried by passion for heritage, design, craftsmanship, performance and exclusivity. The model range comprises of 8 and 12 cylinder open and closed sports cars, all powered by engines from Volkswagen (W12) or Audi (V8).
Spyker considers racing its cars essential for its development and hence races its Spyker C8 Spyder GT2R at Le Mans and in other major FIA GT or Le Mans Series races worldwide.