GM Is Selling Saab To Spyker Cars

johncadengo writes "General Motors said today that it has struck a preliminary deal to sell Saab to Spyker Cars, a tiny Dutch maker of high-end sports cars, saving the Swedish automaker from what seemed like certain extinction after previous bids for it collapsed. A previous bid from Spyker was rejected by GM in late December because GM was uncomfortable with Spyker's Russian backers. The biggest investor in Spyker is the Russian bank Convers Group, which is controlled by Alexander Antonov. In March, Mr. Antonov was shot seven times and reportedly lost a finger in an attempt on his life in Moscow. No arrests have been made. His son Vladimir, 34, is a top executive at Convers and the chairman of Spyker." GM is taking a bath on the deal, financially speaking.

Comments

Is this headline news only because

[Arancaytar]

It is tangentially connected to someone getting shot?

Time for GM to dump all European brands

[ub3r n3u7r4l1st]

One down, many to go.

The only money making divisions are in the U.S. and China. All the brands in Europe are simply parasites that drain GM's money.