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27 April 2017 07:22 (South Africa)

GM decides to sell what’s left of Saab as a unit

General Motors is now seeking to sell its Swedish Saab as a unit, rather than in bits and pieces, with Dutch maker of sports cars, Spyker Cars, taking pole position among potential buyers. Spyker, which manufactures top-priced sports cars costing $235,000 a pop, is in confidential talks with GM in Zurich. Bloomberg says GM has reached a separate preliminary deal to sell some technologies from Saab to Beijing Automotive Industry Holding. Any sale of Saab will depend on EU approval of a $585 million loan from the European Investment Bank. But it’s still a long road back to health for both GM and Saab, as their images have been seriously tarnished. Read more: Business Week

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