Saab survives
The latest chapter in the Saab soap opera sees the carmaker rescued by a small Dutch firm
Spyker Cars, a tiny Dutch supercar maker, will buy Saab from General Motors, reports the Wall Street Journal. The price tag? Spyker will pay an almost paltry US$74 million, with the European Investment Bank covering the bulk of the purchase with US$566 million. GM, which had earlier announced that it would shut down the brand, will take US$326 million in shares in the new Saab. The Swedish car maker has a devoted following, but the brand has languished under GM ownership, becoming a financial headache. Despite the last minute reprieve, its future still seems far from secure.
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