• Jan 24, 2010
Could the Saab endgame – no, the real endgame this time – finally be under way? Bloomberg is reporting that financial terms have been agreed to, in principle, between General Motors and Spyker, and that what remains between the two are sorting out production issues. Beyond that, there are still a couple of catches: Vladimir Antonov, Spyker's Russian backer and company chairman, will reportedly have to leave the company and the Swedish government must agree to guarantee the €400 million ($500 million U.S.) loan from the European Investment Bank.

The money deal is that Spyker gives GM $75 million, GM keeps another $100 million in current Saab liquidity, and The General receives $325 million in preferred shares from the new, Spyker-owned Saab company. That last deal would keep GM in the Saab game, which is perhaps an issue of technology made feasible by Antonov's departure.

The two companies continue to work on the deal in Stockholm. In the meantime, Saab engineers can go on prepping that 9-5 Sport Combi, and if Spyker pulls this off, it will have proved its "Nulla tenaci invia est via" motto and then some.

[Source: BusinessWeek via My Smart Trend | Image: Andy M. via Saabs United]


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  • 26 Comments
      • 4 Years Ago
      You are making a mistake, Spyker. Watch your cash flow go down the toilet.
        • 4 Years Ago
        @philthy

        "beyond on logic" is not good business sense. Frankly it is retarded. SAAB is a great brand, but sometimes you have to know when it's time to pull the life support. The medical bill is going to send spyker straight to the poorhouse.
        • 4 Years Ago
        You down rank me, but watch. SAAB is going to require a company with much more cash to return it to health. In the meantime, red ink will flow. Spyker is too small to turn around SAAB.
        • 4 Years Ago
        Who cares? It's still better than the alternative of Saab dying. This way worst case we get to see them push out a few new 9-5s, one of which hopefully I'll eventually get my hands on, new or used. And there is the remote possibility that Saab will be stronger after breaking off from GM (I think it will be). Either way, Saab is the kind of brand you want to see survive beyond all logic.
      • 4 Years Ago
      I really hope that there is still a heartbeat in the design and engineering department at SAAB, they may just get the opportunity to really shine now. Now if I could just find the pricing on the new 9-5? Pricing for this new car can really make or break SAAB. It's going to be very hard to ask for BMW/Merc money if you still get GM parts bin crap!! I'll still keep my 9-5 Combi and add a new one to the fold if the price is right.
      • 4 Years Ago
      Will spyker does not have the experiance managing a large manufacturing facility nor the cash supply, hate to see them go down because of this.

      Best thing that can happen to Saab, GM and Spyker is if Saab brand is sold fully to chinese auto maker such as SAIC, Chery etc.
      • 4 Years Ago
      Nice picture. And many of the others at Saabs United too.
      • 4 Years Ago
      Odd super car company meets odd car company. Good match I must admit. Still wish koenigsegg bought Saab instead but who knows.. maybe Spyker could extend a olive branch to them and they could join force's, now that would be a company I'd like to see help out Saab hehe. But I am not holding my breath till papers are signed.
      • 4 Years Ago
      I am happy that this is happening to Saab. They have always been a unique car company and Spyker can do wonders with Saab. Hopefully Spyker can make Saab the unique car company it has been for many years.
        • 4 Years Ago
        Hopefully this is it (no more "drama")..a firm sale of Saab back in "Euro" good hands, away from GM's "management" umbrella. I wish Spyker Cars very well for Saab...

        Long Live Saab!!
        • 4 Years Ago
        I hope so as well! Lets see what Spyker can do with Saab!
        • 4 Years Ago
        What could also happen is a few years down the road SAAB will be sold again, probably to BAIC by Spyker. I think the Chinese are taking a two step approach to acquire SAAB by purchasing tooling/technology and brand separately, so they can save a little money and more importantly keep a relatively low profile. A good example would be the MG sale.
        • 4 Years Ago
        Hopefully, Spyker can make Saab profitable.
      • 4 Years Ago
      You know if these "loyal" Saab owners bought a car more than once every 6 years maybe they wouldn't need saving.

      They service their car at the local "AutoHaus" instead of the dealer because they are compelled to go to Otto the Swedish immigrant who is a "specialist"... Maybe they would have noticed that their dealer had added Suzuki and Isuszu over the years to keep the lights on because the "quirky" Saab buyers are far and few between.

      Had a co-worker who swore by her '02 9-5 but when asked if she knew what was going on there she had no clue.... Well when she goes to trade in she bails for a used Lexus instead. Saab owners want to be different. Well now they can. In a different car.

      I'd bring back Hummer or Pontiac before Saab
        • 4 Years Ago
        Exactly. Saab sold how many cars in the United States in 2009? The plucky, quirky and likable Saab that everyone is lamenting is from at least 15 years ago. The brands' cars over the last decade have been way over-priced and outdated compared to any of the other premium makes.

        I know it's not popular to say, but I want GM to succeed, even with my tax money, so it can still contribute to our economy and pay it's money back. Shedding excess plant capacity, excess brands and excess dealerships was the best thing that could happen.
        • 4 Years Ago
        How many older 900 and 9000 models are in that picture? A lot from the looks of it...and that's the point exactly.

        These Saab 'enthusiasts' want the company saved...but did nothing over the years to save it themselves. Try buying a new Saab more than once every 9 years. That might have been a start.
      • 4 Years Ago
      Is this real life?
      • 4 Years Ago
      As usual, GM was holding Saab's future by robbing whoever tried to take the company. They were even willing to eliminate it rather than letting it go. I don't have any use for GM, but things having a way of boomeranging back to them, and if the Europeans were smart they wouldn't buy anything that GM makes in the future.
      • 4 Years Ago
      has anyone noticed that that front gray car in the headline picure looks like fiat abarth 500 without that middle almost oval like grill
        • 4 Years Ago
        I thought it was a rabbit... :)
      • 4 Years Ago
      If this happens I will indeed know that there is truly a God, or at least a deity that presides over all things automotive. I may indeed go out and buy a new 9-5 or the Combi as a sign of gratitude. Amen.
      • 4 Years Ago
      Actually GM will still be owning a part of SAAB under this deal.
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