Dutch luxury carmaker Spyker‘s protracted purchase of Saab from General Motors was finally completed late on Tuesday afternoon.

The Dutch company inked the deal transferring ownership at 16:30CET, with Saab exiting liquidation shortly before the agreement was closed.

Saab Automobile and Spyker Cars will operate as sister companies under the umbrella of the Amsterdam Euronext listed parent company Spyker Cars NV.

“From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold,” said Spyker Cars CEO Victor Muller in a statement.

“Through this acquisition we add approximately EUR15 per share in equity and EUR60 of assets. With a well funded business plan in place we are looking forward to working with Saab’s management on the realisation of that plan and bringing exciting new products to our customers.”

Saab CEO Jan Ake Jonsson will retain his title and confirmed the new company’s intention to carry out its business plan, beginning with the introduction of the new 9-5 model later this year.

“This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome,” said GM vice president for corporate planning and alliances John Smith, who was the US automaker’s key negotiator in recent months.

Earlier reports here and here