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Key events in Saab's history

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Key events in Saab's history


DECEMBER 18, 2009 - 11:00 AM ET

DETROIT (Reuters) -- Here are key events in Saab's history, including today's decision by General Motors Co. to wind down operations after an attempt to sell the brand to Dutch luxury carmaker Spyker Cars failed:

1946 -- Svenska Aeroplan Aktiebolaget (SAAB), founded in Sweden in 1937 to produce high-performance aircraft, starts to produce cars.

1969 -- Saab AB and truck manufacturer Scania-Vabis AB merge under the name Saab Scania AB.

1986 -- Saab sells 48,181 vehicles in the United States, still its U.S. peak.

1990 -- The Saab car division is restructured into an independent company. Investor AB and GM each own 50 percent.

2000 -- GM takes 100 percent ownership of Saab.

2003 -- Saab sells 47,914 autos in the U.S., its peak under GM


Jan. 11 - - GM says it has been in talks to sell Saab.

Jan. 12 -- Sweden says it will not take a stake in Saab or plan more aid.

Feb. 20 -- A Swedish court grants Saab protection from creditors as it tries to find a new partner and raise fresh funds.

Feb. 23 -- Sweden says it can guarantee a European Investment Bank loan to Saab if a new owner emerges that can cover half the necessary financing.

Aug. 18 -- Swedish sports car maker Koenigsegg agrees to terms with GM on a deal to buy Saab.

Sept. 9 -- Chinese state-run company Beijing Automotive Industry Holdings (BAIC) inks deal to take a minority stake in Koenigsegg as part of the deal to buy Saab.

Nov. 24 -- Koenigsegg says it has pulled out of talks to buy Saab. Sweden effectively rules out a state bailout.

Nov. 25 -- BAIC says it is reviewing its options.

Nov. 27 -- GM says it is talking to possible buyers of Saab, four days before a GM board meeting considers whether to attempt to revive a sale process or eliminate the brand.

Nov. 30 -- BAIC says might still be interested in buying Saab.

Dec. 1 -- GM board says it will consider offers on the brand until the end of December and will then decide whether to close Saab if it appears the unit cannot be sold.

Dec. 14 -- BAIC says it has acquired some Saab assets, including intellectual property for the 9-5 and 9-3 sedan platforms and some equipment to produce the models.

Dec. 18 -- GM says it will start an orderly wind down of Saab after it became clear the Spyker deal could not be completed in reasonable time.


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