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When it comes to selling companies, General Motors has had some bad luck lately. The company pulled its deal for Opel off the market. Then its proposed sale of Saturn failed (the company is in the process of being liquidated).
As for this week, there was another dead deal: the sale of Saab to Spyker Cars. And yes, Saab will now be unwound.
What happened here? So far, GM and Spyker have not provided any details. Basically, there were some "issues" that couldn't be resolved.
This morning, General Motors (GMGMQ) -- or is it Government Motors? -- announced that it will sell its Saab unit to a consortium led by Koenigsegg Automotive AB. The purchaser is a luxury carmaker, which produces roughly 12 custom-made models each year. Continue reading General Motors to sell SAAB to Swedish company
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