GM retains adviser for Saturn sale

Story Created: May 4, 2009 at 8:41 AM EST

Story Updated: May 4, 2009 at 8:41 AM EST

DETROIT (AP) - GM says it is retaining a former company adviser to help it review potential buyers for its Saturn brand. The
automaker says several parties expressed interest in buying the brand and its dealerships.

General Motors Corp. is hiring S.J. Girsky & Co. to manage the transaction. The firm is run by Stephen Girsky, who spent less than
a year as a full-time adviser to GM, leaving in June 2006. Prior to GM, Girsky ran Morgan Stanley's auto research team.

GM is looking to sell or phase out Saturn by the end of the year as it races to a June 1 deadline to restructure. Among the bidders for Saturn is a group led by Oklahoma City private equity firm Black Oak Partners LLC.

Detroit-based GM began selling Saturn vehicles in 1990.

(Copyright 2009 by The Associated Press. All Rights Reserved.)
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