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

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The report, which cites an unidentifieed source, said Penske will pay between $100 million and $200 millionn for the brand. The companies are expected to release details of the deal later on Friday. It’s the next step for cash-strappedx GM, which filed for bankruptcyy Monday. In May, the automakee announced it would beclosing 1,10 0 dealerships and 40 percent of its dealer network some 2,600 locations ­– by the end of next Earlier this week, Troy Pfaff, of in Kan., received a lettefr notifying him his dealership would be amongh those cut.
“It’s a tough deal,” he “But, nothing’s really set in stones because it’s all dependant on the He said even if the court allows GM to clos theselected dealerships, he will remain a GM dealer untiol his contract expires next year. “I’m still in business,” he said. “I’m open until October 2010.”