Saab is to be sold to Dutch luxury carmaker Spyker, General Motors has confirmed after earlier this month, saying it would start to shut down the firm while still looking for a buyer and rejecting an earlier offer from Spyker for Saab back in December.
Saab lost 3bn kronor (£255m; $412m) in 2008, and last made a profit since 2001.
Spyker’ shares rose more than 60% on Monday and were up 2.8% before being suspended on the Amsterdam stock exchange, with the Dutch financial market regulator saying the move was “pending [a] press release” from the company.
“Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice-president for corporate planning and alliances.
“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we’re all happy for the positive outcome,” he said.
Spyker sold 43 cars in 2008, when it posted a loss of $35m (£21m).