How Spyker Cars is paying for GM’s Saab brand

How Spyker Cars is paying for GM’s Saab brand

General Motors Co. on Tuesday said it reached an agreement to sell the Swedish car brand Saab to the Dutch sports car manufacturer Spyker Cars NV.

Here’s what GM is getting for it:

— $74 million in cash, paid in two installments

— $326 million in preferred shares of Saab

— “Other considerations,” according to GM alliance chief John Smith, which he declined to specify

— Spyker will also guarantee up to $10 million in Saab debts owed to GM’s main financing company, GMAC Financial Services

Here’s how Spyker is paying for it:

— A loan of up to 4 billion kronor ($550 million) from the European Investment Bank, backed by the Swedish government and subject to approval by the European Commission

— “Back-up financing” in the form of a 150 million-euro loan ($212 million) from investment firm GEM Global Yield Fund Ltd.