Investor Group Interested In Acquiring Saturn

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.


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Joe_Limon - 4/15/2009 3:47:57 PM

+3 Boost

Sell now!

theoptimisticpessimist - 4/15/2009 7:29:12 PM

+3 Boost

"Investor Group Interested In Acquiring Saturn"

Why?

Bmw8ter - 4/16/2009 10:00:46 AM

+1 Boost

Why is the question. This deal smells like Cerberus/Chrysler.

mini22 - 4/15/2009 7:56:56 PM

+1 Boost

Some rebadged Opels. Nothing wrong with that.Also the group plans on selling foreign brands under the Saturn name. Might be interesting.

woood - 4/16/2009 1:19:34 AM

+1 Boost

It does not state which foreign brands this group intends to get from to be sold as Saturns. I'm guessing its from CHinese or Indian automakers whose products are improving by the minute.

r_driver04 - 4/16/2009 12:00:39 PM

+1 Boost

GM really messed up the Saturn Brand. That's sad.

TheDepressingTruth - 4/16/2009 8:56:56 PM

+1 Boost

Maybe this time it will be a "private equity firm" that has a clue about the Auto Business (Cerberus..STILL NEEDS to buy a Vowel)