It looks like customers that are in the market for a new Saab will have a chance to still buy them. Today, GM announced that it has come to an agreement with Spyker Cars over the sale of Saab. Spyker has agreed to pay $74 million dollars in cash up front and will allow GM to receive $326 million worth of preferred shares in Saab.Spyker now intends to change its name to Spyker Saab Automobiles. Spyker is a small, Dutch sports car company that has placed multiple bids over the last few months in hopes of purchasing Saab, saving the 72-year-old Swedish brand from going the way of Pontiac, another casualty of GM's restructuring plan.
-Anthony Alaniz
(Photo: 2010 Saab 9-5)
[Source: GM, Wall Street Journal, Bloomberg]
No comments:
Post a Comment