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NINETY EIGHT REGENCY

Spyker says it's still talking with GM to buy Saab

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Spyker says it's still talking with GM to buy Saab

January 19, 2010 06:01 CET

AMSTERDAM (Reuters) -- Spyker Cars said on Monday it was still in talks to buy Saab from General Motors Co., but gave no indication of when a deal might be clinched.

The future of Saab is hanging in the balance after parent GM nominated two wind-down supervisors last week but, at the same, said it was considering bids for Saab.

Spyker CEO Victor Muller told Reuters on Monday that talks with GM were continuing, adding it was "unclear when we will be done." He did not say whether GM had imposed a deadline for a deal to be sealed.

A GM Europe spokesman had earlier said that GM was still in talks about Saab, but did not say whether GM was talking to one or several buyers.

The talks between GM and Spyker, a Dutch maker of luxury sports cars, come after more than 500 Dutch Saab enthusiasts toured on Sunday to support the brand.

Also on Sunday, Muller denied reports of a joint bid for Saab with another bidder, the investment company Genii Capital, whose offer is backed by Formula One boss Bernie Ecclestone.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100119/ANE/301189880/1265#ixzz0d75lMWTv

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