GM closes SAAB, Koenigsegg deal – report
August 18, 2009 by Matt Brogan
Sweden’s Koenigsegg has closed its purchase of Saab from America’s General Motors according to a report from Reuters Newsagency this afternoon.
Although financing arrangements have yet to be finalised, the sale was agreed upon at an unannounced price sources claim to be “very low”.
“The price tag is non-existent but GM has a deal that grants them revenues as well if Koenigsegg manages to get Saab back on its feet,” a source close to Saab said.
The deal requires the Swedish government to guarantee a loan by Saab from the European Investment Bank. The bank is expected to process Saab’s loan application by end-September.
Sweden said on August 7th that it had received information on a possible pullout of investors backing the deal. But there has been no further statement by the government on the issue since then.
With: Reuters
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I am actually excited by the prospects of this Swedish alliance of Koenigsegg and Saab. I don’t know if this is true, but I heard they let their employees work nude while listening to ABBA. Just a rumour.
I think a lot of good things could come out of this alliance. I hope that Koenigsegg actually do something with Saab. GM have completely wasted them and I feel sorry for them. Saab have the potential to make brilliant cars and I hope they do. We may even see a super car.
This is fantastic news. SAAB has been a wasted brand under the iron fist of GM. Let’s see what it can become with design creativity and engineering intelligence replacing third-generation accountants.
This is the way i like it, nationalistic countries buying back their own companies and not undesirable countries with money buying thoroughbreds.
Finall y the company that makes jet engines and the company that makes the car which almost killed the Stig. But serious;y hope Koenduhf[ohsegg make something out of SAAB.
What hope does a small volume producer like Koenigsegg have in trying to turn around a basketcase like Saab. (GM’s fault for lack of investment)
Saab has been bleeding money for as long as I care to remember so is it really sustainable?
It will take a lot more than a Konanstig backer to get Saab looking like a respectable buy…
I just cant imagine someone actually walking into a Saab dealership and ever buying one at full price….just the thought makes me ***shudder*** …you would have to be seriously demented.