Spyker is still negotiating with GM for the purchase of Saab, with industry experts pegging Spyker as the favorite in the bidding war. Details inside.
Spyker is still very much in the running to takeover Saab, despite a Chinese company's purchase of the 9-3 and 9-5 models. The Dutch sports car manufacturer continued talks with GM executives this past weekend in Zurich.
The Dutch company has partnered with RMC Convers Group Holdings in a bid for the ailing Swedish brand. Other companies said to be interested include Renco Group, owned by billionaire Ira Rennert, and Merbanco, an investment firm based in Wyoming. Koenigsegg had previously reached an agreement with Saab parent General Motors. The niche supercar manufacturer, also based in Sweden, pulled out of the deal just after GM scuttled plans to sell Opel to Magna.
Despite the multitude of interest, media outlets in Sweden, The Netherlands, and America have identified Spyker as the front-runner to win Saab. As a small manufacturer, Spyker may be more appealing to General Motors as a purchaser, because it may prove to be more difficult for the Dutch company to turn Saab into a brand capable of competing with GM's marketing and large-volume production abilities.
Still, Spyker and Saab could benefit from platform- and technology-sharing, in turn helping both cut costs. This is crucial for Spyker, a company that has not turned a profit since going public in 2004, and for Saab, a company preparing to launch its first new vehicle in seven years.