Spyker Cars Said to Be Lone Remaining Bidder for GM’s Saab Unit
Dutch supercar maker Spyker Cars NV is the lone remaining bidder for General Motors Co.’s Saab Automobile unit, two people close to the situation told Bloomberg.com.
Saab is among four brands, along with Pontiac, Saturn and Hummer, that the Detroit-based automaker is unloading to focus on Chevrolet, Buick, GMC and Cadillac in the U.S. after its bankruptcy exit on July 10.
Spyker has offered GM $75 million in cash and $325 million in preferred shares in the new company that would emerge from the transaction, said two people. GM would also keep $100 million of Saab’s existing liquidity.
GM is considering bids for Saab while “we continue to wind down the company,” Chris Preuss, a spokesman, said yesterday. He declined to comment on details of the bids, including how many were under consideration.
Other bidders for Saab have included Genii Capital, the private-equity firm that teamed up with Formula One tycoon Bernie Ecclestone; a group headed by Jan Nygren, a former Swedish deputy prime minister; and a Wyoming-based investor group led by Merbanco Inc. President Chris Johnston.
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