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The Mercury Cars Guide : February 6th 2010
Saturday, February 6, 2010 Classifieds 62 300 400 • carsguide.com.au ---13 Football' SAAB achieves new goal AGREEMENT: Spyker Cars chief Victor R Muller, left, and Jan-Ake Jonsson, CEO of Saab. SAAB has been around and over the oval like a football at an AFL Grand Final. Now, finally, it has been kicked through the goalposts. General Motors has agreed to sign a binding agreement with Netherlands-based super- luxury carmaker Spyker for the transfer of ownership of Saab. To be finalised this month, the deal involves Spyker buying all the shares in the GM subsidiary for about $82 million. The agreement is subject to the success of a $660 million loan agreement between Saab and the European Invest- ment Bank and guaran- teed by the Swedish Government. Spyker will cover Saab's cur- rent obligations up to $11 million. But the deal doesn't fully isolate Saab from GM. In order to allow Saab to operate on a stand-alone basis out- side GM, Saab and GM will enter into ancillary agreements that are li- kely to include the ongo- ing supply of GM's en- gines. As part of the transaction, Spyker intends to negotiate the acquisition of all the outstanding shares in Saab Great Britain Limited, the UK distribution, marketing and sales company for Saab from General Motors UK Limited. Spyker now aims to hold a shareholder meeting to approve the transaction and change Saab's name to Saab Spyker Automobiles N.V. Spyker said that despite some media reports that certain parts of Saab have already been sold off, ''the object is Saab as a complete entity and going concern with all intellectual prop- erty rights, trademarks, facilities and other infrastructures''. ''The sale of pre-2003 Saab 9-3 and current Saab 9-5 technology to Chinese-based BAIC in December 2009 did not result in any part of Saab's business being divested or devalued. On the contrary, Saab has already started the production of the new generation Saab 9-5 in Trollhattan,'' it said. GM vice-president corporate planning John Smith said: ''The 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. ''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.'' Saab entered the car business in 1949 with the first model 92. Its aerodynamic shape and advanced technology drew from the company's roots as an aircraft maker, and helped create what was to become a loyal and passionate customer base. GM acquired a 50 per cent stake in Saab in 1990, and acquired the balance of Saab in 2000. As part of its strategy to focus on its four strongest brands in the US, GM began seeking a buyer for Saab in January 2009, a concerted effort that led to the sale to the Dutch concern. NEIL DOWLING See mitsubishi-motors.com.au for further information. Offers at participating Mitsubishi Dealers only. While stocks last. Mitsubishi Motors Australia reserves the right to extend or modify these offers. Offers available on new vehicles ordered and delivered between 6 February and 28 February 2010. Business, Fleet sales by special arrangement. †10 year or 160,000km Powertrain Warranty (whichever comes first) (non transferable). *5 year or 130,000km New Vehicle Factory Warranty (whichever comes first). ^5 years or 130,000km Roadside Assist (whichever comes first). Service conditions apply. ‡4 year or 60,000km Capped Price Servicing (whichever comes first). Covers all items specified under the standard Maintenance for Normal Operating Conditions schedule detailed in the Service and Warranty Booklet. Additional service/repair items (if required) are at additional cost. Excludes Government and Rental Fleet customers. See your Dealer for full details. 1. Recommended selling price. 2. Drive away price includes 12 months Registration, CTP Insurance, Stamp Duty and Dealer Delivery. MMR1019/TAS/HM To see all of the Start of Year offers visit buyamitsubishi.com.au or call 1300 13 12 11 $32,9901 DRIVE AWAY 2 EXCLUDES METALLIC/PEARLESCENT PAINT $450 EXTRA. PRIVATE BUYERS ONLY. NEW Outlander LS • ACTIVE STABILITY CONTROL • ACTIVE TRACTION CONTROL • 2.4L MIVEC • 5 speed manual • All Wheel Control 4WD system • 16" alloys • Cruise control • Keyless entry • 09 Plate l nder LS Lancer ES • NOW WITH SEVEN AIRBAGS INCLUDING SIDE AND CURTAIN • Sedan or Hatch • 2.0L MIVEC engine • 5 speed manual • Cruise control • ABS brakes • Power windows • Power steering • Active Stability and Traction Control $21,4901 DRIVE AWAY 2 EXCLUDES METALLIC/PEARLESCENT PAINT $450 EXTRA. PRIVATE BUYERS ONLY. † * ^ ‡ HOBART. DJ Mitsubishi. Phone 6213 3300. rES TRITON GLX R IS THE FIRST UTE TO WIN OVERLANDER 4WD OF THE YEAR
January 9th 2010
February 13th 2010