UPDATE 2-GM says has a number of suitors for Saturn

* GM to proceed with efforts to sell Saturn

* Looks to reach a deal with a buyer later this year

* Retains S.J. Girsky & Co as adviser on Saturn sale

* GM shares up 3 percent (Adds share prices, Saturn 2009 sales, byline)

By Soyoung Kim

DETROIT, May 4 (Reuters) - General Motors Corp has a number of potential buyers for its Saturn brand and retail network and will look to secure an agreement with a specific buyer later this year, the company said on Monday.

GM has retained S.J. Girsky & Co as an adviser to help it review expressions of interest from the potential buyers.

GM, which has taken $15.4 billion of U.S. government loans to operate since the start of the year, has scrambled to unload underperforming brands, including Saturn and Hummer, as part of a sweeping restructuring mandated by Washington.

GM, which first announced plans in February to either spin off or shut down Saturn, said it was proceeding with efforts to sell the brand after receiving interest from several parties.