GM Receive Offer From Dutch Supercar Firm For Saab
Posted by Neil Payne on December 21st, 2009Spyker, the Netherlands sportscar maker, has renewed its offer for Saab, giving the Swedish carmaker the prospect of an 11th-hour reprieve.
General Motors announced on Friday that it would close Saab for good, consigning the 60-year-old brand to automotive history, after talks to sell to Spyker collapsed.
However, in a spectacular act of brinkmanship, Victor Muller, Spyker’s chief executive, issued a new offer on Sunday, giving GM until 5pm today to accept.
Will Spyker's Offer Be Enough To Save Saab?
“We are returning to the table with a renewed offer that addresses every known issue brought to light during the initial negotiations, and that has the full backing of the Saab management,” Mr Muller said.
“We have asked GM and all other involved parties to seriously consider this offer. Some 1,500,000 Saabs are on the road today and their proud owners would no doubt welcome the survival of this phenomenal brand.”
Spyker, which is listed on the Euronext stock exchange in Amsterdam, would reveal no more details of its new offer other than that it eliminated the need for a loan from the European Investment Bank by the year end.
GM said on Friday that the failure to secure the loan had been one of the obstacles to concluding a deal.
Read More>Times Online
Entries (RSS)