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GM nears deal to sell Saab to Dutch automaker

Written By Trading Forex News on Tuesday, January 26, 2010 | 6:50 AM

GM nears deal to sell Saab to Dutch automaker

DETROIT (AP) - A person briefed on the matter says General Motors Co. is close to a deal to sell its Swedish Saab brand to Dutch luxury automaker Spyker Cars NV.

The person does not want to be identified because the deal has yet to be signed.

Trading of Spyker shares has been suspended in Amsterdam in anticipation of a press release announcing the deal. A Dutch regulator says it stopped Spyker trading "pending a press statement" by the company.

Spyker spokesman Mike Stainton has declined comment on why trading was suspended. Shares were up 2.8 percent at 3.908 euros ($5.50) before trading was halted.

Spyker's shares leapt 70 percent Monday on speculation about the Saab deal. The companies said Monday they were in talks but had not reached a deal.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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