Dutch sports car maker Spyker says it has finalised the purchase of Swedish car maker Saab from General Motors.
'We are delighted. Saab's future is now secure,' Spyker chief Victor Muller said in the statement. 'From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company,' he added.
Spyker and GM reached a deal last month for the sale of Saab for €54m in cash. GM will also retain redeemable preferred shares.
Saab's future had been in doubt throughout 2009 as GM, going through bankruptcy, radically restructured its business and tried to sell off what it saw as non-core and unprofitable assets.
Spyker, a minnow in the global car industry, manufactured 21 cars in the first quarter of 2009 and sold 23 for prices starting at €199,990. It has a workforce of about 90 assembly workers while Saab has 3,400 employees in Sweden alone.
