TVR Sold
;)
Britain continues to be the playground of choice for Russian oligarchs. Following Roman Abramovich's creation of "Chelski", a 24 year old Russian by the name of Nikolai Smolenski has bought TVR sports cars - for cash, naturally. He is actually the son of an oligarch - Alexander Smolenski who emerged remarkably unscathed from the 1998 bankruptcy of his bank. The amount is undisclosed, but is thought to be in the region of £15 million - £20 million.
Smolenski is thought to want to turn TVR from a local legend into a global brand, with a big sales push in Europe and the USA. If handled correctly, TVR is an astute buy: it is the last sports car brand of any value not in the hands of a multinational car company.
