The Netherlands

Saab Automobile signed a deal to begin using BMW engines as the struggling Swedish automaker seeks to restore its profitability and prestige.

After a year-long search, General Motors finally found a buyer in the Dutch sports-car maker. The $400 million offer comprises $74 million in cash and $326 million in preferred shares. Saab workers and customers finally have a good reason to be hopeful.

After announcing Friday that it would shutter Swedish car maker Saab, GM has reportedly received several inquiries from potential buyers. One is from previously rejected Saab suitor Spyker Cars, which has submitted a revised bid that expires at 5 p.m. Monday. Spyker says that it has removed the obstacles that ended negotiations previously.