Spyker Cars renews offer for GM's Saab

AMSTERDAM (Reuters) –
Dutch luxury carmarker Spyker Cars NV said on Sunday it submitted a renewed offer to buy Sweden's Saab from General Motors Co. after last-ditch talks to secure a deal collapsed on Friday.

GM said on Friday it would start shutting down the loss-making firm after talks with Spyker ended. The move to abandon the 60-year-old Swedish auto brand would eliminate 3,400 jobs in Sweden and drop 1,100 Saab dealers.

But Spyker said it has submitted a renewed offer including an 11-point proposal addressing each of the issues that arose during the due diligence process.

"We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer," Spyker Cars Chief Executive Victor Muller said in a statement.

Spyker Cars said the new offer eliminates the need for an European Investment Bank (EIB) loan approval prior to year end, which would allow the deal to be concluded within GM's deadline.

Muller added Spyker cars was confident its offer would remove the impasse and allow it to conclude the deal prior to the expiry of the deadline originally set by GM of December 31.

The renewed offer is valid until 5 a.m. EST on Monday December 21.

(Reporting by Aaron Gray-Block; editing by John Stonestreet)