GM requires that Spyker's Russian chairman and biggest investor Vladimir Antonov exit the company before a deal can be made.

Representatives from General Motors and Dutch sport car maker Spyker Cars met in Stockholm Friday to review a potential sale of GM’s Saab unit as the parties near an agreement, Bloomberg wrote.

GM considers Spyker’s 500 million dollar offer of cash and preferred shares in the new Saab to be adequate, according to two people familiar with the matter.

An agreement hinges on the Swedish government agreeing to guarantee a 400 million-euro ($566 million) loan from the European Investment Bank for the Swedish carmaker.

GM also requires that Spyker chairman and biggest investor, Russian businessman Vladimir Antonov, exit the company.

Spyker has offered GM about 75 million dollar in cash and 325 million dollar in preferred shares in the company that would emerge from the transaction, people familiar with the matter told Bloomberg last week. Saab’s existing liquidity would give GM $100 million.

Spyker Chief Executive Victor Muller told Reuters in a text message that he was "still confident" of reaching a deal to buy Saab.

Also a partnership between Genii Capital, Formula One boss Bernie Ecclestone and Swedish businessman Lars Carlström is bidding for the Swedish carmaker.

An offer by Wyoming-based investment group Merbanco was recently turned down by General Motors.