GM's Saab sales to Spyker likely to close this week

General Motors Co.'s sale of Saab Automobile to Spyker Cars NV will likely close this week, moving the U.S. company closer to trimming its U.S. brands by half, two executives involved with the deal said.

Spyker officials met with GM lawyers in Stockholm yesterday, said one of those people and another familiar with the proceedings, who asked not to be identified because the discussions aren't public. The proposed sale cleared its final regulatory hurdle earlier this month when the European Investment Bank approved a 400 million euro ($544 million) loan.

"It's certainly possible it will happen" today, said Mike Stainton, a Spyker spokesman. Tom Wilkinson, a spokesman for Detroit-based GM, declined to comment on when the sale might close.

GM has said it wants to complete the deal by the end of the month. It is disposing of the Saab, Hummer, Pontiac and Saturn units to trim its U.S. brands to four from eight. The company is keeping the Chevrolet, Buick, GMC and Cadillac brands for its home market.

Spyker, the Zeewolde, Netherlands-based maker of the C8 Aileron exotic sports car, agreed on Jan. 26 to buy Trollhaettan, Sweden-based Saab from GM for $74 million in cash and $326 million in preferred shares in the new company and other consideration. A person familiar with the matter has said that GM is also getting $100 million of Saab's liquidity.

Spyker rose 17 cents, or 5.2 percent, to 3.47 euros yesterday in Amsterdam trading.

Chief Executive Officer Victor Muller, who has raised the $50 million owed to GM when the purchase closes, said on Feb. 12 he was "very confident" he would be able to raise the final $24 million due on July 15.