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SAAB DEAD

Z-06

By Z-06
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Z-06

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SAAB TO BE SHUT DOWN

INABILITY TO SELL KILLS GM's QUIRKY BRAND

saab_logo.jpg

1947-2009

2009-12-18

Detroit. General Motors announced today that the intended sale of Saab Automobile AB would not be concluded. After the withdrawal of Koenigsegg Group AB last month, GM had been in discussions with Spyker Cars about its interest in acquiring Saab. During the due diligence, certain issues arose that both parties believe could not be resolved. As a result, GM will start an orderly wind-down of Saab operations.

A media conference call with John Smith GM Vice President, Corporate Planning and Alliances will take place at 9:45 a.m. Eastern Time.

Discussion: SAAB Sale Cannot be Concluded

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