Spyker’s Saab deal ‘close’
GM is around the edge of promoting Saab to Spyker, based on reports.
The Bloomberg news agency is reporting that financial terms happen to be agreed in principle backward and forward sides, which ongoing production and management issues would be the only remaining hurdles.
One of these simple unresolved issues may be the role of Vladimir Antonov, Spyker’s Russian backer and company chairman, in Saab, who GM is reported to wish to face lower. Something is the requirement for the Swedish government to ensure a 400 million euro loan (￡351m) in the European Investment Bank.
The report suggets Spyker can give GM $75 million (￡47m) for Saab, while GM could keep another $100m (￡62m) in current Saab liquidity, and $325m (￡210m) in preferred shares in the new, Spyker-owned Saab company.
Reports advise a deal might be announced now.
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