Bloomberg: Spyker may be lone remaining bidder for GM’s Saab image

Dutch supercar maker Spyker Cars NV is the lone remaining bidder being considered for General Motors Co.’s Saab Automobile unit, said two people close to the situation.

GM will probably decide whether to continue sale talks or liquidate Saab by Jan. 18, said one of the people, who asked not to be identified because the details aren’t public.

Saab is among four brands, along with Pontiac, Saturn and Hummer, that the Detroit-based automaker is unloading to focus on Chevrolet, Buick, GMC and Cadillac in the U.S. after its bankruptcy exit on July 10.

Spyker has offered GM $75 million in cash and $325 million in preferred shares in the new company that would emerge from the transaction, said two people. GM would also keep $100 million of Saab’s existing liquidity, said the people. The details of the bid may change, two people said.

Spyker expects the purchase of Saab will be decided within a matter of days, Dutch newspaper AD reported, citing Chief Executive Officer Victor Muller.

“Discussions between Spyker and GM are ongoing,” Spyker spokesman Mike Stainton said in an interview today. “I’m not aware that anything has changed in the last few days.”

GM is considering bids for Saab while “we continue to wind down the company,” Chris Preuss, a spokesman, said yesterday. He declined to comment on details of the bids, including how many were under consideration.

Bloomberg