Saab will sell to a dutch company

Sweden's Saab is being sold to Dutch luxury carmaker Spyker, General Motors (GM) has confirmed. GM has been trying to sell Saab since January 2009. Earlier this month, it said it would start to shut down the firm while still looking for a buyer. But GM said wind-down activities would be immediately suspended, " pending the close of the transaction". Spyker sold 43 cars in 2008 , when it posted a loss of $35 m (£21 m). It has yet to make a profit in six years. Spyker has agreed to pay $74 m in cash for Saab, John Smith, GM vice-president for corporate planning and alliances, told reporters. Under the deal, GM would also get $326 worth of preferred shares in Saab. The Swedish government has also agreed to guarantee a 400 million- euro (£349 m; $563 m) loan Saab had requested from the European Investment Bank, which was seen as key to the sale. "Now the deal between Spyker and GM has been finalised, so the government has today taken the decision to give loan guarantees to Saab Automobile," Enterprise Minister Maud Olofsson said. 'Great news' Saab lost 3 bn kronor (£255 m; $412 in 2008 , and has not made a profit since 2001. US group GM rejected an earlier offer from Spyker for Saab in December. Shares in Spyker were earlier suspended on the Amsterdam stock exchange, with the Dutch financial market regulator saying the move was "pending [a] press release" from the company. Its shares were 2.8 % higher before the suspension, after having risen more than 60 on Monday. "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 GM's John Smith. "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.