Dutch sports car maker and former F1 team Spyker have reached agreement to buy Swedish car maker SAAB from GM.
SAAB was an off shoot of the Swedish aircraft maker in the 50's and enjoyed world wide fame for it's inovative 3cyl 2stroke high performance sedans. They had a lot of success rallying and ran many endurance races in Europe, including Le Mans, with a lot of class wins. The company was also a pioneer in the use of turbo chargers on road cars.
The company was bought by GM, and SAAB enthusiasts will tell you that the heavy hand of Detriot made the cars increasingly bland and in the end a sort of badge engineered Opel.
Spyker was founded in the early 1900's and has had some more recent exposure to the public for it's very limited production (23 cars in 2009) rang through F1 and Sports and GT racing.
The deal is being finance by british based GEL Global, A Russian partner and a Euro loan financed by the Swedish Government.
Bernie Ecclestone and the GENI group which now owns Renault F! had been bidders for SAAB but withdrew their offer last week.