General Motors and Spyker Cars NV have announced today that they have finalized the deal for Spyker’s purchase of Saab.
This means that, going forward, Spyker has taken over the reins and has assumed full responsibility for the (not so much) Swedish automaker.
John Smith, GM Vice President For Corporate Planning and Alliances, had the following to say about the development:
This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome. This is a great day for Saab employees, dealers and suppliers, and a great day for millions of Saab customers and fans worldwide.
GM Europe President Nick Reilly also chimed in, saying:
Throughout negotiations over the past year, GM has worked with many parties, including governments and investors, to find a solution for Saab. I’m very pleased that we could come to a positive conclusion, one that presents a viable future for Saab and preserves jobs in Sweden and elsewhere.
And this will officially put an end to GM Authority’s coverage of all things Saab… starting immediately. Unless, of course, GM has a sudden change of heart and decides to buy the brand back. But we’re not holding our breath.
Check out the full press release after the break!
Spyker Cars Finalizes Purchase of Saab Automobile from GM
- Transfer of ownership and operations to Spyker Cars takes place
- Previously announced wind down of Saab operations ends
- A new era begins for an iconic auto brand