|
Saab Automobile is set to win a stay of execution from General Motors as the US carmaker closes in on a deal to sell its Swedish unit to Spyker Cars of the Netherlands. Several people close to negotiations said a provisional agreement could come as soon as today, bringing a halt to preparations by GM to shut down one of Sweden's iconic brands. It would also mark a step forward in GM's efforts to off-load non-core brands and would thrust Spyker, a niche maker of luxury sports cars, into the mainstream car industry. But there would be disappointment for Bernie Ecclestone, the Formula One racing mogul, who teamed up with Genii Capital, the Luxembourg-based private equity company, to challenge Spyker for Saab. Spyker has been negotiating with GM since the collapse of an earlier deal to sell Saab to Koenigsegg Automotive, a Swedish sports car maker, in November. GM, which put Saab up for sale a year ago along with other lossmaking units Saturn and Hummer, had signalled increasing pessimism over the prospects of a deal and appointed wind-down supervisors this month in readiness for closure. But Victor Muller, Spyker's chief executive, continued to push for an agreement, with support from the Swedish government, which has offered loan guarantees to help any buyer rescue Saab. People involved in negotiations said the two sides had moved within reach of a deal, with an announcement tentatively scheduled for today, but they cautioned there were still details to finalise and that delays or even a breakdown were still possible. A spokesman for the Genii consortium said it was still interested in Saab but acknowledged Spyker was favourite. I am a professional editor from http://www.himfr.com/, and my work is to promote a free online trade platform. http://www.himfr.com/ contain a great deal of information about blank toddler clothing,Best Spotting Scope,laser engraving machine, welcome to visit!
Related Articles -
Spyker,
| 
