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