Spyker confirms will spend 4 billion US dollars to purchase generic flag SABO
CRI news integrated foreign reports, General Motors and Netherlands sports car manufacturer car Spyker (Spyker Cars NV) confirmed on 26 January, General Motors has already agreed to the company under the flag of Sweden brand Saab (SAAB) sold to Spyker cars.
Announced transaction Spyker CEO Victor-Muller (left) and SABO CEO Jan-Aake Jonsson handshake
According to Reuters news, Netherlands car dealers car SPYKER Spyker CARS NV Tuesday said it would take 4 billion acquisition of General Motors subsidiary Saab, including 7400 million in cash.
Spyker cars claimed that the transaction is expected to be completed before February 15, Saab will, in accordance with the timetable for the withdrawal ordered to close the program. Transactions completed, General Motors will also gain value 3.26 million redeemable preference shares. However, the transaction is subject to the implementation of Saab and EIB-400 million euros of loan agreement. The loan will be secured by the Government of Sweden.
Spyker cars also indicated that the GEM Global Yield Fund Ltd to provide three-year 1.5 million euros net credit limit.
This transaction is expected to realize augurs well for Saab. According to the agreement, the Saab brand cars will continue to work in the United States market sales, General Motors will provide part of the power part.
It is learnt that Saab and Saab GB 2009 consolidated revenue of some 10 billion euros, interest, taxes and depreciation before loss of 4 million euros. Spyker plans will be a new company named Saab Spyker Automobiles.
[Edit: yiyangcai]