Currently reading: Spyker's Saab deal 'close'
Financial terms have been agreed in principle - report
Autocar
News
1 min read
24 January 2010

GM is on the brink of selling Saab to Spyker, according to reports.

The Bloomberg news agency is reporting that financial terms have been agreed in principle between the two sides, and that ongoing production and management issues are the only remaining stumbling blocks.

One of these unresolved issues is the role of Vladimir Antonov, Spyker's Russian backer and company chairman, in Saab, who GM is reported to want to stand down. Another issue is the need for the Swedish government to guarantee a 400 million euro loan (£351m) from the European Investment Bank.

The report suggets 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.

Reports suggest a deal could be announced this week.

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VX220EDDIE 25 January 2010

Re: Spyker's Saab deal 'close'

fuzzybear wrote:
Have to agree with those sentiments :)

:)
Amanitin 25 January 2010

Re: Spyker's Saab deal 'close'

So Spyker are planning on sourcing critical components from both VAG and GM? Good luck to that.

fuzzybear 24 January 2010

Re: Spyker's Saab deal 'close'

VX220EDDIE wrote:
Well i'm staying optimistic and this news is good maybe GM have been listening to what a lot of people are saying about Saab lets give them the benefit of the doubt! and if they do indeed sell GM will get my loyalty again the world is a lovely place :)

Have to agree with those sentiments :)