Recently we have been covering the Saab story, which was quite the saga with the ups-and-downs of a rollercoaster. Just when all hope was lost, it seems Spyker has saved Saab.
Spyker is a Dutch exotic car builder, and has likely saved Saab from certain death. The deal cut involves Spyker paying $74 million in cash and $326 million in preferred stock in the new Saab that will emerge from the ashes like the Phoenix. The deal is set to officially close in mid-February, at which point GM can finally heave a sigh of much-deserved relief.
The Swedes are known for their sweets, and to sweeten up the arrangement, the Swedish government has agreed to guarantee a $563 million (400 million Euro) European Investment Bank loan for Saab.
Spyker was founded in 2000, and creates exotic sports cars in the $200,000 and above price range only. To date, only 250 Spyker cars have been sold. The exotic car company hopes to gain momentum with Saab and unleash more of its exotics worldwide-which will be “Saab Spyker Cars”.
So look for great things in the future from Saab Spyker, who’s logo, emblazoned over an airplane prop and an old fashioned wire car wheel reads, “Nulla tenaci invia est via” (For the tenacious, no road is impassable). Hopefully they will unleash some awesome cars, and exotic rental cars.
Post by Imagine Lifestyles Luxury Rentals