GM to Sell Saab to Spyker This Week?
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As a result, an agreement is expected to be reached this week, although officials involved in the matter are keeping all things secret.
Last week, insiders revealed that Spyker is now in exclusive talks with General Motors, voices close to the matter hinting that a decision could surface this week. Genii Capital, the other bidder in the race for Saab, said in a statement that it hasn't heard anything from GM from approximately one week so Spyker seems to be really the favorite to snatch the brand.
"The situation is on hold," a source familiar with the development of the Genii - GM negotiations told Reuters in a statement. Additionally, the insider is claiming that Spyker might indeed have the first option to buy Saab but talks on the Swedish unit's future continue.
Meanwhile, General Motors continues winding down the brand, despite reports that Saab's employees and dealerships continue to work on a regular schedule. GM hired AlixPartners to handle the closing process and sent two liquidators to Sweden to replace Saab's CEO and board of directors.
"Stephen Taylor and Peter Torngren have been officially appointed by the appropriate authority in Sweden as wind-down supervisors of Saab and in this role they will jointly replace the CEO and board immediately. They will meet with management, unions and other stakeholders, and will start working on a plan for an orderly wind down," GM said in a statement.
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