F1 » Ecclestone cans Saab takeover bid


Bernie Ecclestone and Genii Capital pull-out of Saab race; Spyker acquires the Swedish carmaker.

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JohnsonsEvilTwin

January 27, 2010 2:08 PM

Its management buyout style takeover.
Spyker showed a good business case for SAAB and got the loan.
They will have to profit share for the next 5 years with GM as I understand it and , in return GM have given Spyker ALL Saabs IP rights.(intellectual property)

So a clean sheet and 3 new models coming out, SAAB is niot quite dead yet! Thankfully!!!

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