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Dutch Automaker Spyker Submits Bid for Saab

January 7, 2010
2 min to read


Hopes to keep Swedish car company Saab alive flickered Thursday as Dutch exotic automaker Spyker Cars made another bid to buy the troubled brand from General Motors, but a person briefed on the dealings told The Associated Press that GM remains skeptical that Saab can be saved.

Spyker confirmed in a statement issued Thursday evening that it made the last-minute offer, which came a day after GM's interim CEO, Ed Whitacre Jr., said he was not optimistic about Saab's survival and the Detroit automaker would begin closing factories later in the week.

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"We believe the Saab brand has lots of potential and would be keen to close a deal as quickly as possible," Victor Muller, CEO of Spyker, said in the statement.

The statement gave no financial details of the bid, but said Spyker has had a "constructive dialogue" with GM.

GM will review the Spyker bid, and potentially one from another suitor, as well as talk with the Swedish government about possible financing. But it will proceed with phasing out Saab, said the person, who asked not to be identified because the negotiations are private.

GM and Spyker have been discussing Saab over the last month. GM has also heard from other suitors after an attempt to sell the brand to a consortium led by Swedish sports car manufacturer Koenigsegg Automotive AB fell apart in November.

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