Saab prepares for a sale

By
David Wertheimer
, February 20, 2009 7:43 AM | | Comments (0) | Retweet

Swedish carmaker Saab, which is currently owned by General Motors, has applied for creditor protection as a first step toward a sale. Saab is looking for funding that will aid the marque in a sale or a spinoff from GM. Saab, which was founded in 1937, was purchased by GM in 1990. GM, of course, is experiencing extensive fiscal woes and thinks a slimmer brand lineup is part of a key to its survival. It is also considering moves for Hummer and Saturn.

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