Latest News
Spyker announcement at 18:15
26 January 2010
Spyker is set to be announced as the buyer of Saab at a press conference this evening.
A conference has been scheduled for 19.15 CET this evening - 18:15 UK time.
The deal is reported to have been signed with GM today, with news agency Bloomberg saying it has an emailed statement from Spyker confirming the sale.
Spyker intends to change its name to Saab Spyker Automobiles. Spyker's chairman, Russian banker Vladimir Antonov, has reportedly sold his shares to an equity firm owned by Spyker CEO Victor Muller.
Reports suggest Spyker will give GM $75 million (£47m) for Saab, while GM will keep another $100m (£62m) in current Saab liquidity, and $325m (£210m) in preferred shares from the new, Spyker-owned Saab company.
Earlier this afternoon Dutch financial authorities announced that trading in Spyker shares was suspended, prompting speculation that a deal to purchase Saab is about to be announced.
Twitter - follow autocar.co.uk
See all the latest Saab reviews, news and video
Your say
Comments: 8 Join the discussion
News archive
Today's hottest stories
