Saab is dead... or not?

General Motors announced today that the intended sale of Saab Automobile AB would not be concluded. After the withdrawal of Koenigsegg Group AB last month, GM had been in discussions with Spyker Cars about its interest in acquiring Saab. During the due diligence, certain issues arose that both parties believe could not be resolved. As a result, GM will start an orderly wind-down of Saab operations.

Saab will continue to honor warranties and provide spare parts and service � presumably through other GM brand dealers as Saab dealers go offline. Officials note that this is not a bankruptcy or forced liquidation situation, so outstanding creditors should still expect to receive payment.

Updated on 21.12.2009

Spyker has submitted a renewed offer to GM that addresses what are said to be eleven sticking points that scuttled an earlier agreement. The Swedish government is also reportedly conferring with GM reps to see what else might be done to prevent Saab from flat-lining for good.