Saab USA dealer agreement extended to January 31st

I’ve received emails from a few US Saab dealers overnight, letting me know that they received letters in the last 24 hours telling them that their deferred dealer agreement has been extended to January 31st of next year.
The original agreement was scheduled to run out on December 15th 2009. That deal would have reasonably covered them in the normal course of events given that they announced their intention to wind Saab up around 10 months or so ago. As you know, though, things have rarely gone to plan in this Saab deal.
Now, GM have a December 31st deadline for a decision, but if that decision is to sell Saab then it’ll likely take them into early next year to close the deal. Hence, the dealers get a little breathing room.
The text of the letter, dated December 11th (and received by the dealers December 14th – with just one day to go) reads as follows:

As we annunounced last week, GM is exploring whether other interested parties may wish to purchase the Saab brand after the proposed sale transaction with Koenigsegg AB did not close. Accordingly, this letter is written notice that the acquistion closing deadline in paragraph 2 of the deffered termination agreement executed by your dealership company is hereby further extended from December 15 2009 to January 31 2010.
We will, of course, provide your dealership with any further additional information regarding the potential sale of the Saab brand as soon as it is appropriate to do so.


With one day to go. What a way to live!
Ay Carumba!

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