• Jul 5, 2010
Spyker C8 Aileron Spyder at Galpin Spyker – Click above for high-res image gallery

Spyker has announced that the Dutch supercar manufacturer has completely paid General Motors for the purchase of Saab. The purchase was split into two payments, the last of which was due on July 15, but Spyker opted to send the full $24 million to Detroit ahead of time. The builder of the C8 Aileron says that the funds originated from internal sources, and that the company didn't have to take on any additional debt because of the early payment.

The move is the latest in Spyker's plan to resurrect Saab from its withered state. Recently, the company has said that it plans to broaden and firm up the Saab dealer network here in the US. At the same time, production of the C8 Aileron will ramp up as well, possibly to dovetail with the company's plan to sell the supercar alongside standard Saab models. Hit the jump for the press release.



[Source: Spyker]

Show full PR text

Zeewolde, the Netherlands, 5 July 2010 - Spyker Cars N.V. ("Spyker"), manufacturer of premium automobiles under the Saab and Spyker brands, today confirmed it has paid the second and final instalment of the purchase price for Saab Automobile AB ("Saab") to General Motors ("GM").

This USD 24 million payment to GM (plus interest) was due on 15 July 2010, but Spyker opted to pay almost two weeks early.

The payment has been funded from internal group sources and without any increase in external debt and no share issue causing dilution of existing shareholders. This internal funding became available following the closing of the acquisition of Saab Great Britain Limited by Spyker on 31 May 2010.

Victor Muller, CEO of Spyker Cars N.V. says: "The early payment of the second and last instalment underlines our desire to finalize the transaction with GM as soon as it was possible, enabling management to fully focus on the future of the group and the realization of Saab's business plan".


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    • 1 Second Ago
  • 10 Comments
      • 4 Years Ago
      My God! I hope the new Saabs don't end up looking like Spykers!
      • 4 Years Ago
      good, now come out with all-new products that arent rebadged gm products! everyone knows the 9-3 is on a shortened version of the malibu's platform and the new 9-5 is based on the buick lacrosse...
        • 4 Years Ago
        and everyone also knows that the 9-5 has 70%+ saab engineered and independent parts. also people also know the 9-3 is such a modified european epsilon platform that its the only epsilon that cannot be built anywhere else than trollhattan. all the others were designed so that they can be produced at factories throughout the world interchangeably.
      • 4 Years Ago
      Pocket change compared to what it's going to cost to develop a 9-3. Utterly insignificant. If GM were smart, they'd forego the cash, and just keep some equity.
        • 4 Years Ago
        Maybe Spyker doesn't want to give them equity. I mean, a deal is a deal. If you want to change it both sides have to agree. And given that keeping some equity might seem like a desirable thing for GM, it's possible Spyker doesn't want to give it up.
        • 4 Years Ago
        "If GM were smart"...........OK
        • 4 Years Ago
        The development for the next 9-3 is already payed for: it was part of the deal with GM.
      • 4 Years Ago
      Wow that's really cheap. It'll be cool to get some more spyker's stateside.
        • 4 Years Ago
        Yeah I took a look at their site. I was surprised to see that they were here at all. It'll be cool, if they become more popular, to see them have more available through the Saab dealership network.
        • 4 Years Ago
        There already here, you just have to know where to look. There is a luxury / super car dealer about 15 miles from where I live. They've got everything, Veyron's(3 last I was there), Ferraris new and old, Phantoms, Koenigseggs, Lotus', they even had a Reventon for a short time. Spykers are always there, well actually only 2, I'm pretty sure they've only sold 1. Had a black drop top for a long time, thats gone and now there is a white one. I must say they are gorgeous in person! Pictures don't do the interior justice! Once when no one was looking I took a quick hope into the drivers seat. I can safely say a Spyker would be on the top of my list of cars to buy if I ever came into serious money.