BREAKING NEWS: Saab Appears to Be Going to Spyker But No Deal Yet Says GM - VIDEO ENHANCED
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SEE ALSO: Surprise! Spyker Bids For Saab - Exclusive Video
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Senior European Editor
Amsterdam Bureau
The Auto Channel
AMSTERDAM - January 25, 2010: Just two hours before the announced business update by GM CEO Ed Whitaker, we got news about the Saab take over. Spyker Cars that placed a new bid for Saab on January 7, is said to be accepted by GM as the buying party.
The European Investment Bank EIB is said to have agreed to provide the loan that is necessary for Saab to survive. Also the Swedish government is said to have approved this loan. The news was aired by the Swedish SVT on its web site today.
This afternoon the Swedish government is talking about giving guarantees for the loan. So far, the government did not want to be involved in any negotiations, but yesterday the vice secretary for economical affairs, Mr. Jöran Hägglund confirmed to Swedish journalist that the Government now is directly involved in the talks between GM and Spyker.
Hägglund warned however, that GM’s ‘big bosses’ could still prevent the deal.
Since this morning, Spyker shares are rising like a comet. At 13.45 European standard time, the share was 2.92 Euros, 36 percent higher or a gain of 82 eurocents. An hour ago the increase was more than 70 percent.
Spyker’s CEO Victor Muller does not want to comment. The company released a note to the press saying that negotiations with GM are ongoing and that the outcome is still uncertain.
Click PLAY to watch an exclusive interview with the Spyker CEO at last month's LA Auto Show
Click PLAY to watch Sabb's recent VNR regarding convertible production
