A group of investors today says it has offered to acquire General Motors Corp.'s struggling Saturn brand, which is slated to be eliminated as part of the automaker's restructuring plan unless a suitor is found.
The group, which includes private equity firm Black Oak Partners LLC, based in Oklahoma City, and several Saturn dealers, have approached GM to acquire the assets of Saturn Distribution Corp. Terms of the offer, which was submitted last week, were not released today. The group would initially provide vehicles from GM and eventually offer small, fuel-efficient vehicles from several manufacturers -- most of which would be sold under the Saturn brand.
Black Oak Partners is located in an office building in Oklahoma City that shares an address listed on state business records for Saturn of Oklahoma City. The dealership is headed by Mark Moore, who could not be reached for comment.
2009 New York Auto Show Photo Gallery
If you want to see your photos running on our homepage photo ticker,
be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com
There are photos and then there are AutoSpies.com photos!
AutoSpies.com is ranked number one on Google search for auto shows
Read Article