Spyker Cars NV finalises acquisition of Saab GB

A press release…..

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ZEEWOLDE, The Netherlands – May 31, 2010

Spyker Cars N.V. (“the Company”), manufacturer of premium automobiles under the Saab and Spyker brands, today confirmed it has finalised the agreement with General Motors UK to purchase Saab Great Britain Ltd (“Saab GB”) – the UK distributor of Saab cars. The Company is listed on Eurolist by NYSE Euronext Amsterdam (ticker symbol SPYKR).

  • Spyker Cars finalises agreement over the purchase of Saab GB
  • Transfer of ownership has taken place
  • Saab GB will carve out from General Motors’ UK organisation
  • Transaction confirms the start of an exciting new era for Saab GB

The transaction secures the future of Saab GB and signals the start of an exciting new era for it as part of the newly independent Saab Spyker organisation.

Saab GB will complete a carve out process from General Motors UK in the next few months allowing it to operate as an independent company. The carve out will culminate in a move to new premises, expected to take place in August 2010.

Jonathan Nash, Managing Director of Saab GB, says: “We are delighted – this is great news for employees of Saab GB and its franchised dealers. We are now looking forward to a busy period of exciting new product launches over the next 24 months, starting with the UK launch of the all new 9-5 in our dealers on July 8th.” He continues: “Our dealer body has a reputation for individual customer service that fits perfectly with Saab’s position as an independent manufacturer, and I know they can’t wait to get started showing customers our new flagship.”

Victor Muller, CEO of Spyker Cars N.V. says: “We are very pleased that we have managed to finalise the acquisition of Saab GB within the time frame set and thank General Motors for their cooperation. We look forward to seeing Saab GB flourish with the introduction of so many new products in the coming months, starting with the all new 9-5. Historically, Great Britain has ranked in the top three markets for Saab and we have high expectations for the future.”

Saab GB chief Jonathan Nash staying with Saab

Good news in from Just Auto today, stating that experienced hand and man with a penchant for green, Jonathan Nash, will be staying on with Saab GB rather than taking the cushy option and sticking with GM.

He has just about finished his search for a new HQ (probably Milton Keynes) and is deep into hiring mode.

Funny, but he hasn’t called me yet…. (but I’ll be over in July if you’d like an interview)

Saab GB are being purchased by Spyker Cars as part of the Saab deal and all the employees there were apparently given the choice of staying or going. Nash said the vast majority are coming over, though some were only ever seconded to Saab anyway and didn’t have an option.

There are a number of Saab people in other jurisdictions in a similar boat to Mr Nash and I think it’s a great vote of confidence that they’re sticking with the company.

Thanks to gijzje for the link!

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