Buy-out secures Saab future

  • Dutch sports car firm to buy Saab from GM
  • Plans to purchase British franchise too
  • Warranty and servicing work to continue

Saab owners can breathe a sigh of relief with news that the company is likely to keep going under new ownership, and not be shut down.

Owner GM has agreed a $74 million deal to sell the Swedish-based company to Dutch sports car maker Spyker. In return, GM will retain a share in Saab.

The deal looks likely to go through now that the Swedish government has guaranteed a 400 million euro loan to Saab.

As a result, existing Saab owners will have their warranties honoured, and a dealer network is likely to remain. New models such as the 9-5 saloon should go on sale later this year.

Spyker has said it intends to buy the Saab GB franchise from GM UK.