GM nears deal to sell Sweden’s Saab to Dutch luxury automaker Spyker
By APTuesday, January 26, 2010
GM nears deal to sell Saab to Dutch automaker
DETROIT — A person briefed on the matter says General Motors Co. is close to a deal to sell its Swedish Saab brand to Dutch luxury automaker Spyker Cars NV.
The person does not want to be identified because the deal has yet to be signed.
Trading of Spyker shares has been suspended in Amsterdam in anticipation of a press release announcing the deal. A Dutch regulator says it stopped Spyker trading “pending a press statement” by the company.
Spyker spokesman Mike Stainton has declined comment on why trading was suspended. Shares were up 2.8 percent at 3.908 euros ($5.50) before trading was halted.
Spyker’s shares leapt 70 percent Monday on speculation about the Saab deal. The companies said Monday they were in talks but had not reached a deal.
