Saab Buyout: Spyker secures for $400m

By Alan Ng - Jan 27, 2010

It was a deal that had been in the process for some time, but a deal has finally been reached in which Dutch company Spyker secured the buyout of Sweden’s Saab Automobiles.

As reported from the Guardian, the deal comprises of an initial payment from Spyker of $74m to General Motors, while $326m will be paid in deferred shares for Saab.

It ends a troubled few months for Saab, who have failed to make any money, as a result of failing to attract a global audience with their brand.

Spyker’s Chief Executive Victor Muller insists that the company will maintain the “uniqueness, heritage and individuality” of the Saab brand.

Full article through the link, let us know your thoughts on the buyout. Is this a good move for Saab or not?

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Also See: Saab News: Woes continue with bankruptcy protection move