DETROIT -- General Motors Co. today completed the sale of its Swedish Saab brand to Dutch luxury sports car maker Spyker Cars NV, marking the first successful sale of one of its four unwanted U.S. brands.


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The transaction combines Saab Automobile and its 3,400 employees with Spyker Cars and its 110-plus workers under parent company Spyker Cars NV. “Saab's future is now secure,” Spyker CEO Victor Muller said in a statement. “We will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold.”

Source: GM completes sale of Saab to Spyker