The Swedish car company will be acquired by Spyker Cars, a tiny Dutch maker of sports cars. Under the deal, Spyker gives GM $74 million in cash and $326 million in preferred shares of a new, combined Saab-Spyker entity. As you may recall, Saab had been left for dead after an earlier sale fell through. From the NYT:
Despite Saab's huge losses over the last decade, its stylish yet idiosyncratic cars have drawn a loyal following in northern Europe and the United States, especially the northeast. For Saab fans, the Spyker acquisition should allow Saab to roll out a new version of its 9-5 sedan, the luxury model's first update in 12 years. If it does indeed arrive in showrooms this spring, the new model promises a return to Saab's Swedish roots as well as a price tag in the $40,000 range, enabling it to compete with rival offerings from BMW and Audi.