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article imageU.S. Government Stopped Original Purchase of Saab

By Michael Bearak     Feb 1, 2010 in Business
The United States government stepped in the middle of the original deal to sell Saab last year due to suspected mafia connections.
When Spyker originally tried to purchase Saab in December of 2009, the United States government stepped into to stop General Motors from selling the car company. The concern was over a relationship between billionaire Alexander Antonov who owned Convers Group which was a major stock holder in Spyker. The concern was that Antonov and Covers Group, which is a Russian investment group was closely tied to organized crime.
The United States government stepped in to order the General Motors board to stop the sale of Saab.
Subsequently GM had concerns over proprietary information that might have been sold to competing automakers. Convers Group owned 4.6 million shares, which Victor Muller, the founder of Spyker purchased himself. With the acquisition of Convers' shares it allowed Muller to make another offer to purchase Saab, which was agreed by GM upon last week.
GM was satisfied with an agreement where Antonov and the Convers Group would not be involved.
Additional Information can be read at Fox News.
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