General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.
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Shares in Spyker Cars soared 30% in early Monday trading to be the lead gainer in Amsterdam and were up over 39.5% just after 12:30GMT on speculation the Dutch luxury sportscar maker is close to a deal to buy Saab from General Motors.
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Up-for-sale GM unit Saab looks highly likely to conclude a deal with
Dutch luxury sportscar maker Spyker Cars with an announcement
possibly to be made this evening, European time.
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General Motors confirmed on Monday afternoon it was continuing to discuss the sale of its Saab unit with Dutch luxury sportscar maker Spyker but declined to elaborate. The announcement by GM chairman and CEO Ed Whiteacre came soon after the bidder said negotiations "must end soon".
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General Motors confirmed on Monday afternoon it was continuing to discuss the sale of its Saab unit with Dutch luxury sportscar maker Spyker but declined to elaborate. The announcement by GM chairman and CEO Ed Whiteacre came soon after the bidder said negotiations "must end soon".
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General Motors confirmed on Monday afternoon it was continuing to discuss the sale of its Saab unit with Dutch luxury sportscar maker Spyker but declined to elaborate. The announcement by GM chairman and CEO Ed Whiteacre came soon after the bidder said negotiations "must end soon".
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Up-for-sale GM unit Saab looks highly likely to be sold by General Motors to Dutch luxury sportscar maker Spyker Cars with an announcement expected at 16:30GMT in Detroit.
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Zeewolde, the Netherlands,- Spyker Cars N.V., manufacturer of exclusive premium sports cars, has noted recent press speculation about the SAAB negotiations. Spyker confirms that talks are ongoing, the outcome of which is still uncertain. As SAAB is currently in liquidation talks must end soon.
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Prospective bidder for GM subsidiary Saab, Genii Capital, is to make an individual approach for the troubled Swedish automaker.
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Owners stage convoy to show support for troubled Swedish brand
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Over 500 Dutch Saab fans toured part of the country at the weekend to support the Swedish brand, and one described the troubled automaker as the "Apple of the car industry".
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General Motors declined to comment on speculation today (18 January) that private investment firm Genii Capital could make a joint bid with Dutch sports carmaker for troubled Swedish subsidiary Saab.
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Britain, as you may have heard, perhaps while basking under an Antipodean summer sun (particularly good this year, we hear), has been a bit chilly these past three weeks, the thaw finally began in earnest today.
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Dutch sportscar maker Spyker is pushing forward with a last-ditch bid to save GM's embattled Saab unit and said it had the money to make a deal.
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General Motors on Tuesday afternoon (12 Janaury) named Stephen Taylor and Peter Torngren as wind-down supervisors of Saab, jointly replacing the CEO and board immediately. The move came hours after the first Swedish-made convertible left the company's Trollhattan assembly line.
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General Motors on Tuesday afternoon (12 Janaury) named Stephen Taylor and Peter Torngren as wind-down supervisors of Saab, jointly replacing the CEO and board immediately.
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In the latest developments on GM's planned divestment of its Saab brand, GM executives have continued to talk tough on closure prospects while reports have surfaced that the new 9-5 production line may be shipped to China for the car to be rebranded as a Buick.
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A surprise new player last night announced a bid for Saab in partnership with Formula One racing supremo Bernie Ecclestone, prompting the General Motors board to add at least a day to its deadline. And a new Swedish group also emerged as a prospective buyer. GM also said today that it has appointed a firm to supervise the Saab wind-down.
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A surprise new player last night announced a bid for Saab in partnership with Formula One racing supremo Bernie Ecclestone, prompting the General Motors board to add at least a day to its deadline. And a new Swedish group also emerged as a prospective buyer.
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