Saab Purchase Finalized

Spyker Cars NV and General Motors announced that they have finalized the purchase of Saab Automobile AB by Spyker. Ownership and operations of Saab are transfered to Spyker, and both Saab and Spyker will operate under Spyker.

The full release from General Motors follows:

DETROIT – General Motors and Spyker Cars NV today announced that they have finalized the deal for Spyker to purchase Saab Automobile AB.

Going forward, Saab and Spyker will operate under the Spyker (AMS:SPYKR) umbrella, and Spyker will assume responsibility for Saab operations.  The previously announced wind down of Saab operations has ended.

“This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome,” said John Smith, GM vice president for corporate planning and alliances.  “This is a great day for Saab employees, dealers and suppliers, and a great day for millions of Saab customers and fans worldwide.”

“Throughout negotiations over the past year, GM has worked with many parties, including governments and investors, to find a solution for Saab,” said Nick Reilly, president, GM Europe. “I’m very pleased that we could come to a positive conclusion, one that presents a viable future for Saab and preserves jobs in Sweden and elsewhere.”

One Comment

  1. aneram says:

    As a current Saab owner, I am thrilled this sale has closed. I was able to see the new 9-5 late last year and it is a very distinctive looking sedan. Now that it has AWD, I’ll be putting it on my list of new cars to consider buying. Not having AWD across the product lineup has really hurt Saab in the past decade. Now that it is on the 9-3 and will soon be on the 9-5 and upcoming 9-4 crossover, more folks should look to the brand.