By Gina Gomez
New York, Dec.20, (THAINDIAN NEWS) After talks with a Dutch automaker failed, General Motors has made it clear that it is left with no other option but to close down the car brand Saab. Without divulging much information regarding the reasons for the failure of the talks, the automaker has revealed that discussions with Spyker Cars collapsed as certain issues evolved that could not be resolved. The decision points to the shutdown of the car brand, which has around 3,400 employees and mainly function from Sweden.

For about three weeks Spyker Cars, General Motors and the Swedish government were involved in talks to enable the sale of the car brand but the discussions did not go as presumed. Explaining the reasons for the failure of the talks, the dutch car company emphasized that the transaction was far too complex and as a result it could not materialize so soon. Victor Muller, CEO of the dutch automaker clarified that although comprehensive discussions were undertaken, the complications of the deal along with the deadline posed as a hurdle to seal the transaction.

In 1989, Saab separated from Swedish car company Scania and it resulted in General Motors gaining 50 percent ownership in the car brand. However, the company bought the rest of the stakes of the company in 2000 but the take over did not turn out to be a profitable venture for the American car company. At the same time, many analysts have also claimed that Saab lost its uniqueness after the acquisition and its distinct features also went missing. Meanwhile, the government of Sweden has termed the announcement as regrettable and surprising.