Struggling US auto giant General Motors has reached an agreement with businessman Richard Penske to sell its Saturn brand, the Wall Street Journal reported on Friday.
Sources with knowledge of the deal told the financial daily that a preliminary agreement will be made public shortly.
The deal will apparently allow Penske -- a former race car driver who head the Penske Automotive Group dealerships -- to take over Saturn's "brands, trademarks, service and parts operations and distribution operations related to the brand."
GM filed a massive bankruptcy Monday as it struggles to overcome enormous debt and slumping sales.
