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GM Confirms Penske as Saturn Buyer,
4th August 2009
Confirming an earlier report this morning, General Motors has announced that it has reached a preliminary agreement with Penske Automotive Group for the sale of the Saturn brand. The financial terms of the deal were not disclosed but GM said that it expects the close the transaction in the third quarter of this year. The American automaker said that if completed, the deal will save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States.
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