Roger Penske to buy Saturn from GM

NEW YORK — General Motors Corp. has a tentative deal to sell its Saturn brand to former race car driver and dealership group owner Roger Penske, both companies said Friday.

Penske has signed a memorandum of understanding that would give his dealership chain, Penske Automotive Group, Saturn’s 350 dealerships, the companies said. Penske said that he expects to offer all the dealers new franchise agreements and will retain all 13,000 Saturn employees for the immediate term.

Bill Burns, general manager of Saturn of Boardman, said he hopes to hear details from GM next week.

“It looks very promising, and we’re excited,” he said.

Car dealer Jim Pace owns the dealership as well a Saturn dealership in Niles.

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