The sale of Saab by General Motors to Spyker Cars could be completed this week, Bloomberg News reported, citing two executives involved with the deal.

Spyker officials were said to have met with GM lawyers in Stockholm yesterday. The proposed sale cleared its final regulatory hurdle earlier this month when the European Investment Bank approved a EUR400m (US$544m) loan.

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A Spyker spokesman indicated a deal could be finalised as early as today.

GM has previously said it wants to complete the deal by the end of the month. It is disposing of the Saab, Hummer, Pontiac and Saturn units to cut its brands to four from eight, keeping Chevrolet, Buick, GMC and Cadillac, mostly for its home market.

Spyker agreed on 26 January to buy Saab from GM for $74m in cash and $326m in preferred shares in the new company and other considerations.

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