Cars
General Motors revealed on Wednesday that an investor group which includes a company called Black Oak Partners along with some of Saturn's dealers is interested in acquiring the firm's Saturn division. "Over approximately the past 60 days, a sub-committee of Saturn retailers has been studying the feasibility of the sale or spin-off options, and has identified some parties that are potentially interested in a purchase or spin-off of Saturn," said GM in a statement.
- Breaking: Penske Terminates Discussions With Gm On Saturn After Failing To Agree With Third Party Automaker
This just in; Saturn will soon be history as Penske Automotive Group (PAG) announced today that it has ceased discussions with General Motors to buy the nameplate, ultimately sealing the fate of the brand. The automotive retailer said that it terminated...
- Breaking: Gm Confirms Penske As Saturn Buyer, Says Production Of Aura, Vue And Outlook Will Continue
Confirming an earlier report this morning, General Motors has announced that it has reached a preliminary agreement with Penske Automotive Group for the sale of the Saturn brand. The financial terms of the deal were not disclosed but GM said that it expects...
- Penske Not Buying Saturn, General Motors Kills Saturn
General Motors is killing off the Saturn brand. Prospective buyer Penske had all but acquired the relatively young brand but has backed out because of an "inability to source new products beyond what it had asked GM to build on contract". GM...
- Saturn Is Done In Canada
From Autoblog comes news from the Canadian Broadcasting Corporation's French division, Radio-Canada, that Penske will cause Saturn to cease in Canada. General Motors-owned Saturn, transferring into Roger Penske's hands, only sold through 60 dealerships...
- Some Saturn Numbers
Saturn originated as 'a different kind of car company'. At the top of the heap, however, sat General Motors. General Motors is responsible for a very large number of automotive brands and, certainly in the late 80's and early 90's, had...
Cars
GM Says Investor Group is Interested in Buying Saturn
General Motors revealed on Wednesday that an investor group which includes a company called Black Oak Partners along with some of Saturn's dealers is interested in acquiring the firm's Saturn division. "Over approximately the past 60 days, a sub-committee of Saturn retailers has been studying the feasibility of the sale or spin-off options, and has identified some parties that are potentially interested in a purchase or spin-off of Saturn," said GM in a statement.The automaker revealed that one of the interested parties is Black Oak Partners, which is a private equity firm, however, GM wouldn't identify any of the other potential buyers.
"With respect to what the eventual outcome concerning Saturn might be with Black Oak or any other interested party, it is simply premature at this time to speculate on what any eventual outcome may be. When we have additional information on this topic, we will communicate to all involved," GM said.
As you probably already know, General Motors is in a race against time to reorganize as it may very well be forced into bankruptcy by the Obama administration by June 1.
- Breaking: Penske Terminates Discussions With Gm On Saturn After Failing To Agree With Third Party Automaker
This just in; Saturn will soon be history as Penske Automotive Group (PAG) announced today that it has ceased discussions with General Motors to buy the nameplate, ultimately sealing the fate of the brand. The automotive retailer said that it terminated...
- Breaking: Gm Confirms Penske As Saturn Buyer, Says Production Of Aura, Vue And Outlook Will Continue
Confirming an earlier report this morning, General Motors has announced that it has reached a preliminary agreement with Penske Automotive Group for the sale of the Saturn brand. The financial terms of the deal were not disclosed but GM said that it expects...
- Penske Not Buying Saturn, General Motors Kills Saturn
General Motors is killing off the Saturn brand. Prospective buyer Penske had all but acquired the relatively young brand but has backed out because of an "inability to source new products beyond what it had asked GM to build on contract". GM...
- Saturn Is Done In Canada
From Autoblog comes news from the Canadian Broadcasting Corporation's French division, Radio-Canada, that Penske will cause Saturn to cease in Canada. General Motors-owned Saturn, transferring into Roger Penske's hands, only sold through 60 dealerships...
- Some Saturn Numbers
Saturn originated as 'a different kind of car company'. At the top of the heap, however, sat General Motors. General Motors is responsible for a very large number of automotive brands and, certainly in the late 80's and early 90's, had...