GM Optimistic About Saab Sale

Updated 7:35 PM

Time is running out for the Swedish-based auto brand Saab, as a principle agreement between its American owner General Motors and the prospective Dutch buyer Spyker has to be in place by the end of the year.

According to a spokesperson for General Motors, the company is optimistic and the Saab car dealers in the United States have had their contracts extended.

But some issues are still unresolved. The Swedish state must evaluate Spyker's financial stability and its plans for Saab's future. If there isn’t a deal by the end of the year, GM says it will shut down Saab.

Spyker’s CEO Victor Muller says the biggest obstacle to the deal is getting the support of the European Investment Bank. In a rare interview with Bloomberg, Muller, who owns 10 percent of Spyker, says the EIB has so far sent neutral signals about granting a 400 million euro loan.