GM Pins Down Spyker To Buy Ailing Saab

Law360, New York (January 26, 2010, 7:09 PM EST) -- In an eleventh-hour deal, General Motors Corp. said Tuesday that it had penned a deal with Dutch sports-car maker Spyker Cars NV to purchase its Saab Automobile AB brand for an undisclosed amount, just as the U.S. auto giant was on the verge of winding Saab down.

Under the terms of the deal, Spyker will form a new company, Saab Spyker Automobiles, to carry the Saab brand forward, GM said.

Although GM is currently keeping the amount of the sale under wraps, Reuters reported that Spyker...
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