Saab finally bought by Spyker

When it counts, GM is extremely indecisive.  They can’t figure out how much the Volt is going to cost, what the point of GMC is, or whether they are selling Saab or not.  Except that they finally figured out that last one.  Probably.  Officially.  I think.

In what sounds like an official report, but who can say when it comes to GM, Spyker bought Saab for $74 million in cash.  As part of the deal, GM retains a whopping 1% of the voting rights – wooha!

Spyker, a tiny Dutch supercar company, will be changing it’s name to Saab Spyker Automobiles.  Not sure how quirky cars that nobody wants to buy fits in with Spyker’s image as a niche supercar maker, but then again, Spyker didn’t ask for my thoughts.

I’m guessing that Spyker has exceptionally deep pockets, or they wouldn’t be able to complete this deal.  Saab is a perennial money loser, and there’s no reason to expect that to change in the near future.  I wish Spyker luck with their handful.

Published on January 26, 2010 in GM

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