Last gasp Spyker buyout keeps Saab on the road

Steve Dinneen
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DUTCH car maker Spyker has snapped up Saab in a last-minute deal worth $400m (£248m).

The tiny super-car manufacturer has catapulted itself into mainstream car production and saved the troubled company from the jaws of oblivion.

Sources close to the two sides predicted the acquisition would collapse but dealmakers were able to breathe life into the transaction at the eleventh hour.

The two sides have been tight-lipped about the intricacies of the deal but sources say just $74m will be paid upfront, with the rest of the money coming in deferred shares.

The Swedish government still needs to sign off a $564m loan from the European Investment Bank but domestic pressure to keep the iconic car maker on the road should be enough to sway it.