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DETROIT-Days after General Motors officials said they were in talks with a potential buyer for their Saturn arm, GM says today Penske Automotive Group will purchase the branch. If the deal comes to fruition, 350 dealerships in the US will remain open and roughly 13,000 jobs will be saved.

“This is the combination of two iconic teams: Saturn and Penske,” says Saturn general manager Jill Lajdziak, in a statement. “GM had the vision to create Saturn and has the desire to see it succeed in the future.”

The deal is expected to close in the third quarter.

On Tuesday GM announced plans to sell its Hummer brand to an unnamed buyer. At the time, officials said the company was in talks with 16 potential buyers for Saturn and three companies for its Saab branch.

The disposition of these brands is part of GM’s move to consolidate and focus its efforts on a small core of car brands. When it filed for Chapter 11 bankruptcy protection on June 1, GM officials said the firm would focus on Chevrolet, Buick, GMC and Cadillac, while selling or shuttering its Saturn, Saab, Hummer and Pontiac brands.

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