#SaabSaved

Who would have thought, after the eulogizing and pessimistic reports? GM has just announced that they have reached an agreement to sell Saab to Spyker. GM did not disclose financial details. Reuters asked its “source familiar with the matter.” The source said Spyker would buy Saab for $400m. A paltry $74m is in cash, the rest is deferred shares. The deal is not completely clinched: It is subject to a Swedish government guarantee on a €400m ($564m) loan from the European Investment Bank. Sweden told GM, it is looking into the matter. GM’s press release is after the the jump. Meanwhile, we’ll try to find out what it took to bring Lazarus back from the dead. Or how likely it is to really happen this time. Haven’t we been here before?