GM completes sale of Saab to Spyker

Entry-level car being considered for new Saab, Muller says

DETROIT — General Motors Co. today completed the sale of its Swedish Saab brand to Dutch luxury sports car maker Spyker Cars NV, marking the first successful sale of one of its four unwanted U.S. brands.

The transaction combines Saab Automobile and its 3,400 employees with Spyker Cars and its 110-plus workers under parent company Spyker Cars NV.

“The focus as of today will be on getting back to business,” Jan Ake Jonsson, CEO of Saab Automobile, told reporters today. Executives want to refocus the identity of the Saab brand “to create an innovative, free-thinking company based on our Swedishness,” he said.

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This entry was posted on Wednesday, February 24th, 2010 at 12:13 am and is filed under Auto company news, General Motors. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.