Spyker Purchase of Saab Moves Forward

Until recently, Saab's future was very much up in the air. The brand was even proclaimed dead by many in the media over the course of negotiations for its sale.

Then, Spyker (our favorite Dutch supercar company), swooped in and saved the day.

With Spyker's very own press release and Reuters reporting, the European Investment Bank (EIB), has approved the €400 million euro (approx. $547 million USD) loan to move the deal.

Securing the loan in concert with a guarantee by the Swedish government was critical to the bid's prospects as the cash is needed to continue operations and fund new developments. Also, today Spyker's shareholders at the company's "Extraordinary General Meeting" approved the acquisition of Saab by "an overwhelming majority."

The only hitch in the deal is a delay in changing the name from Spyker Cars N.V to Saab Spyker Automobiles. The delay is attributed to the need to reach an agreement with the aircraft manufacturer Saab AB on use of the Saab trademark.

Spyker expects to have the issue resolved by the Annual General Meeting that takes place on April 22nd of this year. Sounds good to us, the deal looks like it will be officially completed pretty soon. Saab lives!