Breaking: Saab Not Dead Yet As Spyker Submits New Proposal

Colum Wood
by Colum Wood

Those digging the grave for Saab might want to put their shovels down after Spyker Cars has submitted a new proposal to purchase the Swedish automaker from General Motors. On Friday GM announced that a deal could not be reached and said it would begin an orderly wind down for Saab.

According to Spyker CEO Victor Muller, his company’s new 11-point proposal would eliminate the obstacles that GM sees as making a speedy sale possible. “We are very confident that our renewed offer will remove the impasse that was standing in the way of an agreement on Friday, and this would still allow us to conclude the deal prior to the expiry of the deadline originally set by GM of December 31,” said Muller, commenting that the new proposal would eliminate the need for the European Investment Bank to get involved. Assumedly, this would mean that Dutch exotic car maker Spyker would raise funds by selling shares to its Russian backers.

General Motors has been mostly quiet on the offer, saying simply in a statement that, “Following Friday’s announcement that GM will begin the orderly wind down of Saab, GM has received inquiries from several parties. We will evaluate each inquiry.”

If a deal is reached it would not only save the jobs of 3,400 employees in Sweden, but those at the Swedish automaker’s numerous international dealerships – including 218 in the United States.

[Source: Automotive News]

Colum Wood
Colum Wood

With AutoGuide from its launch, Colum previously acted as Editor-in-Chief of Modified Luxury & Exotics magazine where he became a certifiable car snob driving supercars like the Koenigsegg CCX and racing down the autobahn in anything over 500 hp. He has won numerous automotive journalism awards including the Best Video Journalism Award in 2014 and 2015 from the Automotive Journalists Association of Canada (AJAC). Colum founded Geared Content Studios, VerticalScope's in-house branded content division and works to find ways to integrate brands organically into content.

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  • Bobo Bobo on Dec 20, 2009

    #1- The Spyker's group's links to drug smugglers, organized crime, terrorist cells and so forth will not pass with GM's US Govt. (NSA) overseers. #2- to think that nobody understands the involvement of shady, if not truly corrupt, violent and proven agents of the USSR/STAZI/oligarchy groups backing the thinly veiled 'legitimate' financial institutions engaged hereto for the purpose of ripping off the incredibly advanced technologies that GM/HUGHES(space)/USA spent billions on developing is dumb at the least, and suspicious at most, #3 One must wonder where, if it still exists, that any external investigative journalistic activity must still lay..or lie..