Going forward, Saab and Spyker will operate under the Spyker (AMS:SPYKR) umbrella, and Spyker will assume responsibility for Saab operations. The previously announced wind down of Saab operations has ended.

“This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome,” said John Smith, GM vice president for corporate planning and alliances. “This is a great day for Saab employees, dealers and suppliers, and a great day for millions of Saab customers and fans worldwide.”

“Throughout negotiations over the past year, GM has worked with many parties, including governments and investors, to find a solution for Saab,” said Nick Reilly, president, GM Europe. “I’m very pleased that we could come to a positive conclusion, one that presents a viable future for Saab and preserves jobs in Sweden and elsewhere.”

Via GM Press Release

It’s been many, many…MANY months since Spyker, a small Dutch sports car producer, began talks with General Motors to purchase what was left of Sweden’s Saab.

Well now the make has been saved at the zero hour! New York Times reports:

“General Motors said Tuesday that it had reached an agreement to sell its Swedish unit Saab to Spyker Cars, a tiny Dutch maker of high-end sports cars, saving Saab from what seemed like certain extinction after earlier bids had collapsed, The New York Times’s Nelson Schwartz reports.

G.M. had begun the process of shuttering Saab’s production line and other facilities in Trolltattan, Sweden, at the beginning of the year, but the deal with Spyker will halt that process and buy time for Saab to begin rolling out new cars.

“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,” John Smith, G.M.’s vice president for corporate planning and alliances, said in a statement.

Spyker intends to form a new company, Saab Spyker Automobiles. The transaction is expected to close in mid-February.

The announced deal is the latest turn in a saga that had riveted workers and politicians alike in Sweden, as well as Saab’s famously devoted customer-base.

Still, it will be an uphill battle for Saab to survive over the long-term, auto experts said, noting that just finding a buyer took more than a year for G.M. Amid the uncertainty over the company’s survival, sales plunged 50 percent in the first half of 2009, to 24,000 cars, far too slow a pace for Saab to operate profitably.”

Check out Jalopnik: Sell Our Saab for more coverage

Saab lovers across Europe have already gathered in solidarity for the car make, and GM has noticed. Last week, just before GM was ready to cut Saab completely, they resigned its position and kept the brand on for an extended deadline. As companies continue to make offers for Saab the clock keeps on ticking. Guess we’ll find out by January 7th, according to General Motors, what will happen to Saab. We hope to have protest photos up by week’s end, and more news concerning your favorite Swedish auto maker!

Maybe it was this hip tune from Griffin Up or the fact that GM still saw money-making potential in Saab. But everyone can stop crying – Saab will continue on into 2010. Production of the 2010 Saab 9-5 will continue in January, according to reports earlier today. Saab 9-3 also has orders waiting to be filled, so it looks as though that model will also go on for now.

Saab spokesman Eric Geers talked to Automotive News earlier, stating: “We are preparing the wind-down process. At the same time we are open to options, to bids that come in. Therefore the deadline has also been dropped…We have the orders and we have to deliver them as usual. We also have the orders for the 9-3 and others. The factory has to continue again.”

GM was still in talks with potential bidders for its Swedish unit but Geers only named Spyker Cars and declined to talk about other parties. Merbanco Inc., a Wyoming-based group, has been named in the media as another Saab bidder.

Sources: Automotive News / Jalopnik

“Following Friday’s announcement that GM will begin the orderly wind down of Saab, GM has received inquiries from several parties. We will evaluate each inquiry. We will not comment further until these evaluations have been completed.”

It seems as though the Swedish are trying like hell to keep Saab alive, along with beer and those little red fish candy things. Oh man, those are delicious!

“Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time. In order to maintain operations, Saab needed a quick resolution,” said GM Europe President Nick Reilly. “We regret that we were not able to complete this transaction with Spyker Cars. We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers.”

Saab will continue to honor warranties, while providing service and spare parts to current Saab owners around the world.

As part of its efforts to become a leaner organization, GM began seeking a buyer for Saab’s operations in January. Last week, Saab Automobile AB announced that it had closed on the sale of certain Saab 9-3, current 9-5 and powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd. (BAIC). GM expects today’s announcement to have no impact on the earlier sale.

As the company continues to reinvent itself, GM has been faced with some very difficult but necessary business decisions. The focus will remain on the four core brands – Buick, Cadillac, Chevrolet and GMC – and several regional brands, including Opel / Vauxhall in Europe. This will enable the company to devote more engineering and marketing resources to each brand and model.

This news comes from the Swedish business newspaper Dagens Industri – Chinese automaker Beijing Automotive Industry Holding Co. (BAIC, as the kids are calling it) has paid $197 million for the rights to the 9-5 model as well as some technology from the 9-3.

This amount affords Saab/GM only three more months of operating funds. As we reported earlier in the week, The General is still talking with Dutch automaker Spyker to purchase Saab. If a buyer isn’t found, GM will simply close Saab down for good.

For now, General Motors still has the Saab brand, and is looking to unload it as soon as possible. Other companies looking to keep Sweden’s Auto Maker in The Netherlands include Renco Group and also Koenigsegg, who recently had the top notch before falling through. Anyone want to make a bid for Saab?

Via WorldCarFans

Auto Evolution reports that no such agenda is certain, when asked if Geely is interesting in making an offer for Saab, “Lawrence Ang, an executive director of Geely Auto, quickly reacted: Who knows?” Geely is believed to offer $2 billion for Volvo, although officials involved in the matter refused to comment on the rumors.