Deja-Vu: Saab's chances of survival depend on... General Motors?

The Saab Shutdown of 2011 grinds on, with uncertain finances threatening to silence the operation for good. Even though Spyker took on the ailing brand, former owner General Motors is still the key to Saab surviving, The New York Times reports. Saab's Trollhättan plant ground to a halt in early April, and part of owner Spyker's plan to infuse working capital includes selling the plant and other real estate holdings to Vladimir A. Antonov and then leasing the property back from him. Antonov is a controversial figure in this triangle, and the Swedish government and the European Investment Bank need to sign off on his becoming a shareholder of Saab.

The European Investment Bank told the Times that it has provided an answer on the matter, so it now all hinges on General Motors. For its part, GM is keeping mum about whether or not it will sign off on the deal, with spokesman Klaus-Peter Martin offering up a "no comment." That statement has been directly echoed to Autoblog by GM spokesman Jim Cain, so it looks like we're all playing the same waiting game to see if Saab makes it.

[Source: The New York Times | Image: Chris Paukert/AOL]

Share This Photo X