Posted on 20. Dec, 2009 by in 2000-2009

Spyker Cars has just as of this morning, officially submitted their renewal offer for Saab that removes last hurdles as indicated on the press release section of their website this morning.

This is incredible, here’s the official press release below.


ZEEWOLDE, The Netherlands (20 December, 2009) – Following the announcement on Friday that the intended sales terms of Saab Automobile AB between Spyker and General Motors (GM) could not be finalized, the Spyker leadership has submitted a renewed offer in the hopes of securing a future for Saab, its employees and the brand – despite the announcement that the winding down of Saab would begin.

Spyker CEO Victor R. Muller said today that an 11-point proposal had been submitted to GM, addressing each of the issues that arose during the due diligence process and that the renewed offer would remove each of the obstacles that were standing in the way of a swift transaction.

“We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer,” said Muller.

“We are very confident that our renewed offer will remove the impasse that was standing in the way of an agreement on Friday, and this would still allow us to conclude the deal prior to the expiry of the deadline originally set by GM of December 31st”, said Muller.

“Despite our collective eleventh hour set-back, we are returning to the table with a renewed offer, that addresses every known issue brought to light during the initial negotiations and that has the full backing of the Saab Management. The new offer eliminates the need for an EIB loan approval prior to year end, for example, which will allow the deal to be concluded within GM’s deadline. Our efforts are based on our passion for saving an iconic brand that we would be honoured to shepherd, and the jobs and livelihoods of thousands of loyal Saab employees, suppliers and dealers around the world. Some 1,500,000 Saabs are on the road today and their proud owners would no doubt welcome the survival of this phenomenal brand”, he added.

In Spyker’s view, the ownership of Saab by Spyker Cars would add a lot of value to both parties. For Spyker, Saab would bring a strong, global distribution network consisting of no less than 1100 dealers, state-of-the-art production facilities, a truly dedicated work force and solid engineering, sourcing and research & development capabilities. Likewise, Saab would receive the financial backing required to compete as a competitive global brand, along with an entrepreneurial leadership team sensitive to the uniqueness, heritage and individuality of the Saab brand. Throughout these negotiations, both Spyker and Saab leadership have proven that they share a mutual vision for just such a partnership.

“Our company motto is nulla tenaci invia est via – for the tenacious no road is impassable,” said Muller, “And we intend to remain true to that throughout these negotiations as we bid to secure Saab’s future and revive the company.”

The renewed Spyker offer is valid until 5pm (Eastern Standard Time) on Monday December 21, 2009.


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For further media information, please contact:

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Shane Smith
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  1. Ted Y

    20. Dec, 2009

    Can you image the hero’s welcome Victor Muller would receive in Trollhattan if this deal succeeds? Go Victor!

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  2. Ryan

    20. Dec, 2009


    Absolutely! I think that’ll be one of the biggest celebrations!

    In 24 hours, we should know what’s up with this latest 2nd revised submittal.

    Good for Spyker for doing this, GM best not decline it.

    Crossing Fingers. Go Spyker!


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  3. karen

    20. Dec, 2009

    Spyker certainly is a good poker player. One can only hope the Swedish government (PM Reinfeldt’s comments notwithstanding) has made it clear how much it will cost in dollars for GM (and the U.S. government) to ‘wind Saab down’

    On the other hand, perhaps GM’s idea of a wind-down does NOT mean what Saab enthusiasts think it means, although it most likely DOES mean NO new Saab auto assembly in Sweden. The factory may find new life as another Valmet…

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  4. Ryan

    20. Dec, 2009

    This is a very good signal from Spyker though showing their continued commitment in buying Saab from GM.


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  5. On My Fifth Saab

    20. Dec, 2009

    Let’s just hope it wasn’t the hidden intention of GM to hand everything over to China in the first place. GM never understood the Saab market. Spyker does. GM took a wonderful brand and proceeded to butcher it, from the “Saabaru” to the SID. No matter what comes of this, I will never buy anything from GM in the future. They deserved to go bankrupt with their mismanagement.

    To those in Trollhaten, my thoughts and prayers go out to you.

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  6. Mike Friddle

    21. Dec, 2009

    My prayers are with all of SAAB, may this go with God’s speed!!!

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