Saab-Spyker Deal Finalised

Updated 21:00

The Dutch luxury sports car maker Spyker has finalised the purchase of the Swedish car brand Saab from the american General Motors. "The transfer of ownership took place at 4:30 pm on February 23," Spyker said in a statement.

"This is a happy happy day for everybody who has a soft spot for Saab in their heart, and that includes not only myself but also our employees, our dealers, our supplier, our customers," Saab CEO Jan Åke Jonsson told reporters at a press conference in Stockholm on Tuesday.

And Spyker CEO Victor Muller said he was sure the new business plan would work and that he expects Saab to be selling "somewhere north of 100,000 cars". He talked of the importance of making customers understand that "Saabs will be Saabs again." because "Saab has lost a lot of its DNA over the past years."

Saab Automobile and Spyker Cars are expected to operate as sister companies under the umbrella of Spyker Cars N.V, which is listed on the Amsterdam Euronext exchange.

Car production is expected to be back up and running at the Saab plant in Trollhättan in 3-4 weeks.