5Jun/090
GM sells Saturn
GM has been looking for a buyer for its Saturn auto, and it seems ready to clinch the deal with Roger Penske of Penske Automotive Group say people in the know. By Friday, the deal should be officially announced. The memorandum of understanding has already been signed, but there is no valuation available as of now.
It is quite likely Penske would also be looking at enlarging its portfolio of cars and may be talking to other auto makers, including Renault SA. Penske Automotive is the number 2 dealership group in the US and it is likely take over the brands, trademarks, service and parts operations and distribution operations related to Saturn and other cars that it may buy.
[Via: globalmotors]