Spyker, General Motors complete sale of Saab

Spyker Cars NV and General Motors today confirmed they have finalised the deal for Spyker to purchase Saab Automobile AB.
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Saab CEO, Jan Åke Jonsson, and his management team have been reinstated after wind-down actions ended and the company exited liquidation.

Mr Jonsson confirmed that the terms of the deal remained as agreed upon in earlier discussions and said today’s announcement was great news for Saab customers, dealers, suppliers and employees around the globe.

“The level of passion and support shown to Saab over recent months has been remarkable and this does bode well for the future.“Now we aim to get back to the execution of our business plan, starting with the introduction of the new 9-5 later this year, and with the continued support of our employees and business partners I am confident we will succeed,” he said.

Despite the earlier scepticism of GM CEO, Ed Whitacre, the brand’s vice president for corporate planning and alliances, John Smith, said GM was happy with the final sale.

“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,” Mr Smith said.

Spyker Cars NV CEO, Victor Muller, said now that the business of the transaction was complete his company can focus its attention on the future of Saab.

“From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold.“We will reinforce the emotional experience between Saab drivers and their cars and we will focus on Saab's historical strengths in the fields of independent thinking, aircraft heritage, ecological performance and motorsport,” Mr Muller said.

The launch of the new 9-5 will be followed by the 9-4X crossover next year and the all-new 9-3 in 2012.

Mr Muller also admitted research and development of a small car based on the 1949 Saab 92 was “more than likely” in the future.