"Today's announcement is great news for Saab employees, dealers and suppliers; great news for millions of Saab customers and fans worldwide," said John Smith, GM vice president for corporate planning and alliances in a statement.
"And great news for GM," Smith threw in.
GM did not reveal details on the agreement, but said, "the Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank."
"Assuming quick action," GM said the deal is expected to close next month.
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