Good news for Saab, as Spyker Cars announced that they have paid General Motors off in full. The final payment of $24 million was actually due on the 15th of July 2010 but Spyker has opted to pay the amount two weeks early.
A statement from the company confirms that the source of the funds was internal and has not increased the company’s external debt or caused a share issue problem causing the dilution of existing shareholders. No word on the source of the funds, but all that they’re letting out is the fact that it became available after the acquisition of Saab Great Britain Limited by Spyker on the 31st of May.
This as mentioned before has officially released Saab from the shackles of GM and will help in the realisation of the company’s long term plans. The most recent of all was to sell Spyker supercars such as the C8 Aileron in Saab dealerships.