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I don't really like this, I enjoy Saabs...

Saab-Scania's automobile division was bleeding money profusely since the late 1980's. (around 1987+). As a whole, this was offset by Saab-Scania's truck, bus, airplane, defense, etc. profits.

There were talks of a Fiat buyout, since Saab already had dealt with Fiat and Alfa Romeo on the Group of Four project (that gave the Fiat Croma/Lanica Thema, the Alfa 164 and the Saab 9000) however, Fiat wanted to sever all ties with Sweden, and relocate all design and production to Italy. Saab refused 100%, and later negotiations had them relocating to a neutral territory (the Netherlands).

Still, nobody in Sweden really liked the deal.

Ford approached them. The deal still stank, and Ford wanted to do "major restructuring".

In 1989, Jaguar was put up for bids. Ford and GM were very interested. Ford ultimately won the bidding war, and overpaid - a lot. Ford suddenly had little interest in the Swedish automaker

Soon thereafter, GM approached Saab, and GM's deal was sweet - access to GM parts bins, free money, and essentially no physical GM involvement. Saab Car Division became Saab Automobile Aktiebolaget, 50% owned by the General and 50% by Saab-Scania.

Anyway, the deal was pretty successful, especially with the new-generation GM-derived Saab 900.

Sales however, didn't pick up the pace GM had expected. This ultimately led to a buyout of the remaining 50% by GM in 1999, although Saab-Scania didn't own it - Saab-Scania split up, and the stock was sold to an investment company in '94 or so.



 
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