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US Investor Group Approaches GM on Saturn (Visit this link)
Soyoung Kim from Reuters: An investor group including private equity firm Black Oak Partners has approached General Motors about buying its Saturn brand assets and dealership network, both sides said on Wednesday. The investment group, which includes some Saturn dealers, said its goal was to set up an independent distribution network that would first sell GM vehicles and then branch off into products — including electric vehicles — from its rivals. GM confirmed it had been in discussions with Black Oak and said there were other investment groups interested in taking over Saturn, a struggling brand GM launched 25 years ago in a failed bid to head off market gains by Japanese imports. "They're one of several parties that we've had discussions with at this point," Saturn spokesman Mike Morrissey said of Black Oak. He declined to name the other potential investors.
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