Saab survives

The latest chapter in the Saab soap opera sees the carmaker rescued by a small Dutch firm

Spyker Cars, a tiny Dutch supercar maker, will buy Saab from General Motors, reports the Wall Street Journal. The price tag? Spyker will pay an almost paltry US$74 million, with the European Investment Bank covering the bulk of the purchase with US$566 million. GM, which had earlier announced that it would shut down the brand, will take US$326 million in shares in the new Saab. The Swedish car maker has a devoted following, but the brand has languished under GM ownership, becoming a financial headache. Despite the last minute reprieve, its future still seems far from secure.

Wall Street Journal