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Saab

Government in Talks with GM, Spyker

Published söndag 24 januari 2010 kl 16.45

The Swedish government has confirmed it is involved in talks with General Motors and Spyker concerning the future of the ailing Swedish car brand Saab. Speaking to news agency TT, state secretary at the ministry for enterprise Jöran Hägglund confirmed that the government is in close contact both with US auto giant GM and Dutch sportscar maker Spyker.

But Hägglund also made clear that the government is not directly taking part in the ongoing negotiations in Stockholm. Main reason for the government’s indirect involvement in the negotiations is a possible state loan guarantee which would be necessary for Spyker to close a takeover deal on Saab, Hägglund explained. Swedish and international media reported earlier that the negotiations between GM and Spyker about a takeover of Saab have reached the final stage. Spyker is said to have offered GM 500 million dollars for the Swedish brand.

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