Spyker renews offer for Saab

Dutch luxury car maker, Spyker, has made a fresh offer to acquire Saab from General Motors (GM) after talks to save the company broke down last week.

The renewed bid follows Friday’s announcement that GM would start winding down operations at Saab, after the terms of sale between the two firms were rejected.

According to GM, the original deal by Spyker could not be completed in time to save the group. On Sunday, Spyker responded with an 11-point proposal which it claims addresses each of the issues that arose as a result of last week’s talks.

Victor Muller, Spyker chief executive, said: ‘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.

‘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.’

The deal is still contingent on Spyker securing a loan from the European Investment Bank (EIB), but Muller added that the new offer does not depend on the loan being approved before the end of the year – one of the issues preventing the original deal from being concluded within GM’s deadline.

GM said that it will ‘evaluate each inquiry’ but would make no further comment until a conclusion has been reached.