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Spyker Takes Ownership Of Saab

We haven’t discussed the full process of the Saab deal and the sale to Spyker. The ‘yes, no, yes, no’-story ...

Spyker Takes Ownership Of Saab

Posted on 26 January 2010 by Scott Hayes

We haven’t discussed the full process of the Saab deal and the sale to Spyker. The ‘yes, no, yes, no’-story over the past few weeks has been reminiscent of a soap opera, and yet didn’t hold any significant information worth sharing.

However, after a long process, and several weeks, GM has finally confirmed that Spyker has bought Saab. The official statement is:

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

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

Reports suggest that Spyker will give GM US$75 million for Saab, while GM will keep another $100 million in current Saab liquidity, and $325 million in preferred shares from the new, Spyker-owned Saab company.

As part of the deal, Spyker’s chairman, Russian banker Vladimir Antonov, has sold his shares to an equity firm owned by Spyker CEO Victor Muller. This means that Spyker is no longer directly owned by Russian investors and that a new company opens its doors. The new company will be called Saab Spyker Automobiles.

It is uncertain how it will influence the current Spyker line-up. Questions such as, when will the new Spyker D8 SSUV (Super Sport Utility Vehicle) make an appearance and is the production of the C8 Aileron affected, are currently unanswered.

We’ll keep an ear to the ground about the future of Spyker supercars and keep you posted.

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Spyker Takes Ownership Of Saab

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