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GM Prevails on Dismissal of Spyker Lawsuit Over Saab
A U.S. appeals court in Ohio has upheld a lower court ruling in 2013 that said General Motors Co. did not intentionally interfere with efforts by Spyker NV to sell the Dutch company's Saab Automobile unit.
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A U.S. appeals court in Ohio has upheld a lower court ruling in 2013 that said General Motors Co. did not intentionally interfere with efforts by Spyker NV to sell the Dutch company's Saab Automobile unit.
GM sold Saab to Spyker in 2010 and agree to license its technology to the new owner. But the American company also reserved the right to cancel its license if Saab was sold without GM's consent.
The appeals panel ruled that GM had legitimate business reasons to oppose a planned sale of Saab to China's Zhejiang Youngman Lotus Automobile Co. GM reportedly felt that Youngman might compete with GM's own vehicles in China.
GM's refusal to support the sale pushed Saab into bankruptcy nearly three years ago. Saab's assets were acquired in 2012 by China's National Electric Vehicle Sweden AB for an estimated 1.8 billion kronor (€790 million).
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