GM close to announcing deal to sell Saab-Bloomberg

DETROIT | Tue Jan 26, 2010 10:01am EST

DETROIT Jan 26 (Reuters) - General Motors Co [GM.UL] is close to announcing a deal to sell its Swedish unit Saab to Dutch sports car maker Spyker Cars NV (SPYKR.AS), Bloomberg news service reported Tuesday, citing someone it said was familiar with negotiations.

GM spokesman Tom Wilkinson in Detroit declined to comment on the report.

Trading of Spyker shares was suspended on Tuesday ahead of an expected announcement regarding negotiations between GM and Spyker.

Spyker is the last bidder standing for Saab, which GM has been trying to sell for more than a year. GM in late December said it was going to phase out Saab operations and this week has said it continues the wind-down as negotiations go on.

An effort to sell Saab to Swedish luxury carmaker Koenigsegg fell through in November. (Detroit News Bureau, editing by Gerald E. McCormick)

Stocks
M&A
Markets
Cyclical Consumer Goods

Related Quotes and News

Company
Price
Related News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
1MikefromNYC wrote:
How do you make a fortune building cars? Start with a larger fortune!

Jan 26, 2010 10:33am EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
See All Comments »