Mike Stevens | Dec 21, 2009

LESS THAN TWO days ago, GM announced it would begin winding down Saab operations after negotiations with Spyker broke down. Spyker has confirmed today that a revised bid has been submitted, addressing GM's concerns.

In a statement today, Spyker CEO Victor R Muller said that an 11-point proposal has been put together, designed to remove each of the obstacles blocking its purchase of Saab.

"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," Mr Muller said.

"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."

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Specific details of the transaction's obstacles are unknown, but Mr Muller confirmed that Spyker has eliminated the need for an EIB loan approval before the end of the year, allowing the deal to be concluded by 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," Mr Muller said.

"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.

Mr Muller said that purchasing Saab would give it access to over 1100 dealers worldwide, along with state-of-the-art facilities and research & development capabilities.

For Saab, Mr Muller said the deal would mean not only the brand's survival, but the financial backing the brand needs to operate as a competitive global brand.

TMR is seeking a comment from GM Premium Brands, Australia.

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