Saab sold to Spyker

http://www.saabsunited.com/

GM Reaches Agreement to Sell Saab to Spyker

2010-01-26

DETROIT - General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

"Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM," said John Smith, GM vice president for corporate planning and alliances.

"General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome," Smith said.

As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward. The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale will be disclosed in due time.

The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank. Assuming quick action, the transaction is expected to close in mid-February, and previously announced wind down activities at Saab will be immediately suspended, pending the close of the transaction.

"Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand," added Nick Reilly, president, GM Europe. "We've worked with many parties over the past year, including governments and investors, and I'm very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward."

"I want a 9-3x with the Spyker inspired interior please and thank you!"

Hmmmmm Jerry Sweet of Sweet Motors will be happy for the news... maybe he'll dust off his rally equipment and................

I was not familiar with Spyker so I googled them up.
http://en.wikipedia.org/wiki/Spyker_Cars
Seems that Spyker too is "born from jets"

jrw1621 wrote: I was not familiar with Spyker so I googled them up. http://en.wikipedia.org/wiki/Spyker_Cars Seems that Spyker too is "born from jets"

or bi-planes

Now my new 9-3 Aero AWD V6 seems like an even better deal for the new price of 28k. I think those deals are likely to evaporate now.

This is such great news! I can't wait to see the new cars they can build.

yessssssss

The possibilities are great but the realities are scary. How is this not like Studebaker / Packard all over again? When was the last time either of these companies made money?

The last time Saab made money was just before GM bought them out.

I wish somebody could save Saturn like that, but the brand was so diluted with GM mediocrity that they are probably too far gone anyway.

Hay with an $800million loan they should build at least a few fun cars before the money runs out.

I must admit Spyker has had one of the cooler cars in road racing the past decade, they really stood out in the mediocrity of the pack.

Their road racing car is one of the coolest sounding cars I've ever heard. It stands out at places like Sebring.

DirtyBird222 wrote: "I want a 9-3x with the Spyker inspired interior please and thank you!"

Yes please. Also, incorporate the trick folding toneau thing on the Silvestris Sports 23, which was at least partly designed by Spyker.

I love the Dutch. Windmills, tulips, canals, wooden shoes, legalized marijuana, now this. What will they think of next?

Yea the Spyker LMGT race car sounded pretty nice with both the Audi and BMW V8s they used.

I am glad this is finally over and I hope that everything works out. Maybe SAAB will get back into motorsports now.

81gtv6 wrote: I am glad this is finally over and I hope that everything works out. Maybe SAAB will get back into motorsports now.

Starting with a factory rally team in Antelope Brown.

this could be very interesting. I am going to keep my eyes on it. I am glad I might not own an orphan anymore

Good deal... SAAB lives and hopefully will return to a unique car. We already have plenty of boring and bland.

SAAB are not for everyone and should not. It is the slighly odd ball approach that makes SAAB a SAAB.

i like Spyker and all, but their first cars were crap. When i say first cars, i mean the C8. The start up sequence can rival that of the Space Shuttle, the steering rack was from a racecar, so it was a 14 point turn to park it. The convertable roof couldn't hold out water (it even warned you on the dash), and the brakes were terrible!! Oh, whenever you opened it up (the door handle was a button on the mirror), you would get shocked from static.

Hopefully, they have made things better. I mean, they are dead sexy, but hopefully they won't drag Saab down... Wishing them luck and cant wait to see what ideas they have up their sleeve...

wow!!!I thought this was a thread about a saab being sold to another forum member named Spyker? This is so effing fantastic

...hey, i wonder if theyd be interested in a combo deal with this car named after that american indian tribe...couldnt add more than a few mill to the deal Besides, "G8" sounds Nordic afterall

It's on, it's off, it's on, it's off.............oh wait it's on!! Haven't we already been through this before several times with Saab/ GM and a potential buyer? I really do hope that it's on but I think I'll just wait and see this time before getting all warm and fuzzy. Ok, I will also cross my fingers.

All- Please realize that you'll have to have a LOT of paitence for Spyker to REALLY turn them around. It's going to take some time, and a whole lot of money to fully separate themselves from GM, and be super unique.

I wish them the best, but only GM's justification of the sale gives me any hope that Spyker can really pull this off.

E-

Can they build another 2 Stroke?

alfadriver wrote: All- Please realize that you'll have to have a LOT of paitence for Spyker to *REALLY* turn them around. It's going to take some time, and a whole lot of money to fully separate themselves from GM, and be super unique. I wish them the best, but only GM's justification of the sale gives me any hope that Spyker can really pull this off. E-

That is very true, it is going to be some time before things really change. One thing that I have been thinkging about is that will sales increase because of all of the press about this mess. SAAB has gotten more expsure the last few months than they got under GM, hopefully that will make people more aware of them.