Spyker Cars has finalised the deal with General Motors to purchase Saab.

Jan Åke Jonsson, CEO of Saab Automobile said: “Today’s announcement is great for Saab’s customers, dealers, suppliers and employees around the globe."

The transfer of ownership took place at 16:30 on February 23.

Saab and Spyker will operate as sister companies under the umbrella of the Amsterdam Euronext listed parent company Spyker Cars.

“We are delighted - Saab’s future is now secure," said Victor Muller, CEO of Spyker.

“From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold.

"We will reinforce the emotional experience between Saab drivers and their cars and we will focus on Saab's historical strengths in the fields of independent thinking, aircraft heritage, ecological performance and motorsport.

“With a well funded business plan in place we are looking forward to working with Saab’s management on the realisation of that plan and bringing exciting new products to our customers. Real Saabs, Saab Saabs”

Saab will go ahead with the introduction of the new 9-5 later this year.

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