DETROIT — A small Dutch automaker will try to do what U.S. auto giant General Motors couldn’tmake money by selling Saab brand automobiles in an increasingly competitive global marketplace. GM signed a deal Tuesday to sell Saab to Spyker Cars for $74 million in cash plus $326 million worth of preferred shares in Saab.
The deal hinges on a $550 million loan from the European Investment Bank, which the Swedish government Tuesday committed to guaranteeing. The sale is a coup for Spyker and a lifeline for Saab, which has lost money ever since GM bought a 50 percent stake and management control for $600 million in 1989. The Detroit automaker gained full ownership in 2000 for $125 million more.
“I think what we can bring to the table is entrepreneurship and tenacity,” Spyker chief executive Viktor Muller said. The Associated Press
