Investor sells out of Saab rescuer
August 13, 2009 by David Twomey
Following reports that the Swedish Government was investigating claims that there were problems with the investor base of niche sports car maker Koenigsegg, which is planning to take over General Motors subsidiary Saab, Reuters Newsagency says a major investor has sold his share in the company.
North American investor Mark Bishop has sold his 22 per cent stake in Koenigsegg, Swedish business daily Dagens Industri has reported.
“A new owner has taken over his shares and the negotiations between General Motors and Koenigsegg Group continue according to plan,” a source was quoted by the newspaper as saying.
Reuters says Mr Bishop had the second-largest stake in the company that has struck a preliminary deal to buy Saab.
Saab, GM and Koenigsegg plan to meet this week with the Swedish government about a state guarantee for a 4.3 billion Swedish crown (US$593 million) loan from the European Investment Bank, which would form part of the financing for the acquisition.
“Saab’s management is very positive that, together with the Koenigsegg Group, they will be able to present adequate collateral to get this loan,” the source said.
Saab is currently under creditor protection.
Print it: 
That convertible looks great. Go Saab!
Please konregiesgeethslsegg buy SAAB so they can pump out the next 9-5 and then we’ll see what happens.
Mark my words, SAAB is doomed, it has not made money for decades and that’s even when it was owned by GM, its why the GovCo sold it in the first place and didnt want to touch it with a barge pole.
They are simply not selling enough vehicles at a higher enough price.
The name is tarnished, the resale [what resale?Ed.] is no-where, its a basket case.
I believe you need to do 4 million vehicles a year to make a good profit.
Its best option was to product-share with a established player like say Renault, Fiat or other.
Whats the bet it finally dies, as GM said it will if its not sold to some sucker by years end.
Good luck to whoever has a bash at it.!