Official: Spyker has agreed to buy Saab from General Motors
By Andrew C., 27 Aug, 2010. 0 Comments
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GM announced that it reached an agreement to sell Saab to Spyker! Unfortunately, the manufacturer did not announce the price for Saab, but Bloomberg News said that Spyker will pay $74 million in addition to $326 million worth of shares in the Spyker-Saab merged company. "Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM," said John Smith, GM vice president for corporate planning and alliances. "General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome," said the same Smith. As part og the agreement, Spyker will form a new company, Saab Spyker Automobiles, set to carry the Saab brand forward. "Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand," added Nick Reilly, president, GM Europe. "We've worked with many parties over the past year, including governments and investors, and I'm very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward."
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