Zombie Carpocalypse!
General Motors Co. agreed to sell its Saab unit to sports-car maker Spyker Cars NV in a deal that would save the 72-year-old Swedish brand from extinction.
The transaction, subject to a 400 million-euro ($563 million) European Investment Bank loan for Saab, will probably be completed in February, enabling Saab to halt a wind-down, GM and Spyker said today. Spyker will pay $74 million in cash and $326 million in preferred shares in the new company that would emerge from the deal, called Saab Spyker Automobiles.
