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Saab Spyker Automobiles
Type Naamloze vennootschap
Founded 2010 (planned)
Founder(s) Victor Muller
Headquarters Zeewolde, Netherlands (Spyker)
Trollhättan, Sweden (Saab)
Key people Victor Muller (CEO)
Industry Automotive
Products Automobiles
Subsidiaries Saab Automobile
Spyker Cars

The company Saab Spyker Automobiles N.V. was planned to be formed when the deal between Dutch luxury car manufacturer Spyker Cars and General Motors to acquire Swedish car manufacturer Saab Automobile had been carried out, according to press releases.[1][2] However, now that Spyker Cars has closed the deal with GM, the company is yet to be formed.

Spyker confirmed the plan on 2 February 2010 and said that Saab Automobile and Spyker Cars will function independently in the new company. Spyker also announced that it aims to make Saab profitable again by 2012.[3]

The company will have shares on London Stock Exchange and possibly in the Stockholm Stock Exchange as well.[4] Spyker mentioned on 6 February 2010 that it planned to finance Saab with $1 billion, which will be available to Saab buyers through GMAC under this plan.[5] On 8 February 2010 the European Investment Bank approved the loan being given to Saab.[6] To further help Spykers' financing of the Saab deal, the Saab dealers network raised $24 million which will be put on the table to restructure Saab.[7] The same day Spyker confirmed it had the financing to purchase Saab and that the first instalment is to be paid soon with the second instalment being prepared.[8]

On 12 February 2010 a shareholders meeting for the shareholders of Spyker Cars took place. The shareholders approved the takeover of Saab and they also agreed with the proposed changes of Spyker, including the name change to Saab Spyker Automobiles.[9] Spyker chief executive officer Victor Muller announced that the sale of intellectual property rights to BAIC were related to the pre-1994 Saab 900 and the pre-2010 generation Saab 9-5 rather than the current production line.[4] He also stated that he wished to bring the Saab 9-1 into production sometime soon.

Muller announced that the renaming had been delayed as he needed permission by the aircraft maker Saab AB. He hopes that the renaming will be approved by April 2010.[10]

References

  1. ^ Spyker Cars (January 26, 2010). "General Motors and Spyker Cars Reach Agreement on Saab". Press release. http://www.spykercars.nl/download/artikel/statement_SAAB_jan_26_final.pdf. Retrieved January 28, 2010. 
  2. ^ General Motors (January 26, 2010). "GM Reaches Agreement to Sell Saab to Spyker". Press release. http://media.gm.com/content/media/us/en/news/news_detail.print.GMCOM.html/content/Pages/news/us/en/2010/Jan/0126_saab. Retrieved January 28, 2010. 
  3. ^ Harper, Brian (February 2, 2010). "Spyker expects Saab to be profitable in 2012". National Post. http://network.nationalpost.com/np/blogs/posteddriving/archive/2010/02/02/spyker-expects-saab-to-be-profitable-in-2012.aspx. Retrieved February 12, 2010. 
  4. ^ a b Madslien, Jorn (February 12, 2010). "Spyker boss outlines Saab plans". BBC News. http://news.bbc.co.uk/2/hi/business/8512224.stm. Retrieved February 12, 2010. 
  5. ^ Agostini, Maya (February 6, 2010). "Spyker To Finance Saab With $1 Billion". ozcarguide.com. Oxford-Zeiss. http://www.ozcarguide.com/news-reviews/auto-news/580-spyker-to-finance-saab-with-1-billion. Retrieved February 24, 2010. 
  6. ^ "Spyker shareholders approve Saab takeover". Agence France-Presse. February 8, 2010. http://www.google.com/hostednews/afp/article/ALeqM5gg4IBzDWEbWy1UwhULdhbrtQmibA. Retrieved February 13, 2010. 
  7. ^ "Saab Dealers Said to Put Money Up Backing Spyker". The New York Times. February 8, 2010. http://dealbook.blogs.nytimes.com/2010/02/08/saab-dealers-said-to-put-money-up-for-spyker/. Retrieved February 25, 2010. 
  8. ^ http://www.reuters.com/article/idUSTRE6174KI20100208
  9. ^ (Dutch) "Spyker kan Saab overnemen". NOS. February 12, 2010. http://nos.nl/artikel/136261-spyker-kan-saab-overnemen.html. Retrieved February 14, 2010. 
  10. ^ http://www.motortrader.com/industry-news/car-dealer-news/29778-spyker-runs-the-rule-over-london-listing.html

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