General Motors has finalised the sale of Saab to Dutch firm Spyker.
The deal will see the Swedish car maker and Spyker operate as sister companies under the umbrella Spyker Cars N.V.
The new owners said work will now get underway on plans to revitalise the Saab brand and turn into a profit-making business.
A statement said that the Saab's management regained control of the company after the liquidation status was reversed.
CEO of Spyker Cars NV Victor Muller said: "We are delighted - Saab's future is now secure. 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.
"We will reinforce the emotional experience between Saab drivers and their cars and we will focus on Saab's historical strengths in the fields of independent thinking, aircraft heritage, ecological performance and motorsport."
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