All Entries Tagged With: "GM sells Saab"
Saab Saved. GM Sells Saab To Spyker
By Gunnar Heinrich
HALLELUJAH! Bloomberg’s reporting that GM will sell Saab to Dutch car master Spyker! Oh, that Bloomberg, I could just hug…
Jan. 26 (Bloomberg) — General Motors Co. agreed to sell its Saab unit to Dutch sports-car maker Spyker Cars NV in a deal that would save the 72-year-old Swedish brand that’s being wound down.
Spyker agreed to pay $74 million in cash and $326 million in preferred shares in the company that would emerge from the deal, according to the Dutch company. The transaction, subject to Sweden agreeing to guarantee a 400 million-euro ($563 million) European Investment Bank loan for Saab, is expected to close in February and Saab will exit an orderly wind-down process in line with the timetable.
The automotive world is a richer community with Saab selling cars. Bring on the 9-5! And, please, please, please, the 9-1. Saab needs a smart hatch!
Glimmers of Hope For Saab
- Saab future remains uncertain following Friday’s announcement
- Further purchase inquiries offer tenuous hope
- Waiting with baited breath
By Gunnar Heinrich | IMG GM
THE news on Friday was heartbreaking: GM would close Saab following multiple failed attempts to find a suitable buyer. But today, we have the further angst of not knowing the finality of Saab’s fate.
Hopes springs eternal.
GM Release on 12-20-2009
Following Friday’s announcement that GM will begin the orderly wind down of Saab, GM has received inquiries from several parties. We will evaluate each inquiry. We will not comment further until these evaluations have been completed.
GM: No Confidence for Saab
By Gunnar Heinrich
GM is wasting no time in washing its hands of Saab. And with that, Saab’s set to fall into a grey area should GM file for Chapter 11 protection. While Cadillac or Chevy warranties would be insured under the Federally backed GM Total Confidence Plan should GM go bankrupt, Premier Channel VP Mark McNabb has told Saab USA dealers that GM chose to exclude Saab from the government backed warranty plan. Love lost? The letter >>>
