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January 27, 2010 (Bloomberg) --
General Motors Co., by reaching a $500 million deal yesterday to sell its Saab division to Spyker Cars NV, has moved closer to fulfilling Chief Executive Officer Ed Whitacre’s pledge to pay back government loans by June.
GM Seals Saab Deal, Advances Pledge of Loan Payback
Saab may become the first brand GM sells since emerging from a U.S.-backed bankruptcy on July 10. Arrangements to sell its Opel and Saturn units fell through, as did earlier negotiations over the Swedish brand.
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