Spyker Cars CEO Victor Muller has remained true to his company motto "nulla tenaci invia est via -- for the tenacious no road is impassable" during months of difficult negotiations with Saab owner General Motors Co.
Muller achieved his goal of buying the iconic Swedish brand on Tuesday when GM said it was selling Saab to Spyker for $74 million.
GM twice rejected Muller's offers for Saab late last year because of financing concerns, but Muller drew up a final, third bid in December to address GM's concerns.
But his task became even more difficult after Luxembourg investment company Genii Capital made an 11th hour offer for Saab backed by Formula One boss Bernie Ecclestone, whose net worth is estimated at $3.7 billion by Forbes.
Genii's spokesman Lars Carlstrom all but conceded victory when he said that Spyker had a head-start of at least four weeks in completing work toward a deal with GM. However, he added that Genii and its partners remain ready to pursue talks with GM if the deal with Spyker falls through.
Muller has said Spyker's efforts to buy Saab are based on "our passion for saving an iconic brand that we would be honored to shepherd, and the jobs and livelihoods of thousands of loyal Saab employees, suppliers and dealers around the world."
But Spyker, an unprofitable Dutch boutique brand which builds less than 50 luxury cars a year compared with Saab's annual production of nearly 100,000, has a lot more to gain than honor and the gratitude of Saab employees and enthusiasts.