GM to Sell Saab for $74 Million
Dutch automaker Spyker Cars NV agreed to buy General Motors Corp.’s troubled Saab division for $74 million. Saab sold 8,680 cars in the U.S. last year, down 59% from 2008.
Spyker, a maker of exotic sports cars, will also issue $326 million worth of stock to GM, in a deal backed by a $556 million loan guarantee by the European Investment Bank.
Click here to read more about the deal, which is expected to close in mid-February.
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