Spyker paid last remnant of the GM

Spyker pay last remnant of the bill for Saab to General Motors. Photo: Paul Sancy

Dutch Spyker announced that they have paid General Motors $24,000,000 and thus completed the acquisition of Saab, without the company incurring additional debt.

Concerns about Spyker would pay the remaining $ 24,000,000 (154,600,000 million) for the purchase of Saab subsided after the little automaker avoided incurring more debt by using internal funding.

The Dutch automaker, which has never had a profit took, over Saab from General Motors (GM) earlier this year and was supposed to make the final payment to GM on the 15.

In a statement from the company, they said Spyker they paid without an external debt increased. The company also released an issue of new shares.

Bought Saab Great Britain for 1 Pound

The financing will have been viable after Spyker acquired Saab Great Britain Limited 31 May this year.

Saab Great Britain is only a subsidiary of Spyker Cars, and gave the company an internal loan” said a spokesman for Spyker, Mike Stainton.

Spyker to have bought the Saab Great Britain for the symbolic sum 1 pound and had simultaneous access to the company’s cash box.

On the basis of the message the company rose 0.43 percent on the Dutch stock exchange.

Purchased for $400,000,000

It was earlier this year that it became known that the Dutch car maker bought the Saab for 400 million dollars, equivalent to 2.577 billion kroner.

“It has been an amazing journey since we began negotiations on the Saab” said CEO Victor Muller of Spyker at the time.

Source: E24