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Spyker Decides Against Listing Shares in Sweden, CEO Says

May 19 (Bloomberg) -- Spyker Cars NV, the Dutch company that owns Saab Automobile, today decided against listing its shares in Stockholm, Chief Executive Officer Victor Muller said.

Spyker made the decision today at its shareholders meeting in Zeewolde, Netherlands, Muller said in a telephone interview. The company, based in Zeewolde, last year started considering whether to offer its shares on the Stockholm exchange in 2011 in addition to its existing Amsterdam listing. It also considered eventually ending the Amsterdam presence.

“There’s no point changing the listing now,” Muller said. “We have other things to focus on, including getting a good business going again. We’ll have to think about whether it’s any point ever listing in Stockholm.”

Saab, which accounts for virtually all of Spyker’s business, first stopped production March 29 amid a payment dispute with suppliers. Output has been halted since April 5, and Saab aims to restart production late next week pending negotiations with component makers.

Also at today’s meeting, Muller took the reins as interim chief executive of Trollhaettan, Sweden-based Saab as Jan-Aake Jonsson retired.

Spyker today also approved a proposal to change its name to Swedish Automobile NV. The change should take effect in a few days, Muller said.

Spyker shares rose 1.9 percent today to 3.79 euros, bringing its advance this year to 9.3 percent and giving it a market value of 80.1 million euros ($115 million).

To contact the reporter on this story: Ola Kinnander in Stockholm at okinnander@bloomberg.net.

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net.

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