China’s Beijing Auto to assist Koenigsegg with SAAB purchase

As we reported last week Koenigsegg will not seek additional Swedish government funding in its purchase of SAAB from General Motors, however, according to a report published by Reuters Newsagency today, China’s Beijing Automotive Industry Holdings Company will take a minority stake in Koenigsegg to further assist the group with its purchase.

It’s the second such [...]

Investor sells out of Saab rescuer

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 [...]

GM agrees Saab sale to Koenigsegg

Financially challenged US carmaker General Motors has announced that it has agreed with Koenigsegg Group AB to a Memorandum of Understanding for the purchase of Saab Automobile AB, its loss making Swedish automotive arm.

GM says the deal with the consortium, led by Koenigsegg Automotive AB, will secure Saab’s future.
The sale, expected to close by the [...]

Saab expects sale by Friday

Saab has said it is likely to unveil its new owner this week, and that three quarters of its creditors had agreed to a proposed write-down of the brand’s debt.

Saab is not commenting on who its new owner could be but reports say General Motors is close to selling the loss-making brand to Swedish luxury [...]