Spyker, the Dutch carmaker that owns Saab, has signed a provisional deal to sell its sportscar arm to UK-based, Russian-owned, CPP Global Holdings for around $44m.

Any deal would involve an initial payment of 15m euros. Spyker’s C8 Aileron sportscar is already built in Coventry in the UK.

CPP, which is owned by Russian businessman Vladimir Antonov, said a deal would mean creating more jobs in the city.

“The management of the company has very exciting plans for Spyker and the brand is entering a period of major developments,” said Brendan O’Toole, CPP’s managing director.

Spyker Cars said it would change its name following a deal.