Spyker manufactures a small number of exotic sports cars that fetch $200,000 or more. Above, a Spyker LM85.
(Jock Fistick/ Bloomberg News)
Suitor gives GM time to reply on Saab
Spyker manufactures a small number of exotic sports cars that fetch $200,000 or more. Above, a Spyker LM85.
(Jock Fistick/ Bloomberg News)
NEW YORK - Spyker Cars, a niche automaker in the Netherlands, is giving General Motors Co. more time to consider selling it the Saab brand, keeping the fate of the Swedish automaker up in the air.
Spyker had given GM until yesterday to consider its latest offer, but it has extended that deadline until further notice. Spyker submitted its latest offer Sunday, days after talks with GM collapsed.
Spyker is Saab’s latest suitor. GM had been in negotiations with a consortium of buyers led by Koenigsegg Automotive AB, but the Swedish sports car maker dropped out of the talks in November.
Spyker makes a small number of exotic sports cars that fetch $200,000 or more. Last year, it produced just 43 vehicles and lost $35.5 million.
GM said Sunday that it had received inquiries from several parties.
Saab employs about 3,400 people worldwide, most of whom work at its main plant in Trollhattan, Sweden.
GM bought a 50 percent stake and management control of Saab for $600 million in 1989 and gained full ownership in 2000 for $125 million more.
© Copyright 2009 Globe Newspaper Company.
