GM: We are proceeding to the next step in the sale of Saturn

Posted: May 04, 2009
 Email 4 Comments

GM released a short statement today that it is “proceeding to the next step with respect to the sale of Saturn.” The automaker said that a number of potential buyers have surfaced and express interest in the brand and its retail network.

GM said it will review the proposals from potential buyers and will look to secure an agreement later this year. GM is working with S.J. Girsky&Co. for the transaction.

So far, we’ve heard that Telesto Ventures, an investment group that includes private equity firm Black Oak Partners LLC, has shown significant interest in acquiring Saturn’s retail operations. It is looking to provide the brand with mostly overseas models after 2011.

GM will stop building Saturn vehicles at the end of this year,

- By: Omar Rana


Share |  Email  Print |




Subscribe & Connect

Connect with us on any of our social profiles below.

Subscribe to our e-mail newsletter to receive updates.

  • edward

    good. Buick should be the next to go too. China loves Buick. Maybe they should buy it.

  • Pat

    it's about damn time! what about HUMMER im sure someone in middle east wants to buy it..dont hope for much GM selll it for what you can. we don't ant to hear about anymore bankruptcies next month.

  • ellis

    I have not seen a single Saturn Sky on the street since it debut back a couple years ago. Do they even sell it? I'm pretty sure it's a pretty good car to drive since clarkson like its European twin Vauxhall.

  • ellis

    I have not seen a single Saturn Sky on the street since it debut back a couple years ago. Do they even sell it? I'm pretty sure it's a pretty good car to drive since clarkson like its European twin Vauxhall.