Report: GM to sell Saturn to Penske - South Florida Business Journal:

grihanovveimavox.blogspot.com
The report, which cites an unidentified source, said Pensks will pay between $100 million and $200 millionb for the brand. The companie are expected to release details of the deal latefron Friday. It’s the next step for cash-strapped GM, whicbh filed for bankruptcy Monday. In May, the automaket announced it would beclosing 1,100o dealerships and 40 percent of its dealer networok – some 2,600 locations ­– by the end of next Earlier this week, Troy of in Mulvane, Kan., received a letter notifying him his dealership would be among those cut. “It’s a toughg deal,” he said.
“But, nothing’s really set in stone becausw it’s all dependant on the bankruptcy.” He said even if the courty allows GM to close theselecterd dealerships, he will remain a GM dealer until his contracg expires next year. “I’m stilpl in business,” he said. “I’m open until Octobetr 2010.”