General Motors Co. said Friday it will wind down Saab after talks to sell the brand to Dutch carmaker Spyker Cars collapsed.
GM said in a news release that issues arose during the sale talks that could not be resolved.
"Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time," GM Europe President Nick Reilly said in a statement. "In order to maintain operations, Saab needed a quick resolution."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment