Ah, the tangled web of automotive high finance. Victor Muller, CEO and largest shareholder of Dutch automaker Spyker Cars said “oops” (or Dutch words to that effect) and reduced his voting interest is Spyker from 34.3 percent to 26.8 percent.
Why? It just dawned on Muller (or his CPAs) that with more than 30 percent he would have had to make a buyout offer for the rest of the shares. After having gobbled up Saab through complex dealings involving Russian money of dubious provenance, being forced to buy out the whole company because of some silly law wasn’t a high priority for Muller.
Rules are rules, so what’s a newly minted tycoon to do? (Read More…)