New Car Ok: Koenigsegg

Wednesday, June 17, 2009

Official: General Motors has reached an agreement to sell Saab

An agreement has been reached between GM and a group led by Swedish supercar maker Koenigsegg for the sale of Saab. The agreement included a $600 million of assistance from the European Investment Bank (EIB) to be guaranteed by the government of Sweden.

There is a great possibility that no funds will proceed from Koenigsegg Group in the purchase of Saab and its assets. The sale of Saab is expected to be finalized at the end of the third quarter of the year. Saab, which filed for bankruptcy last February 20, has been in a restructuring process to enhance its attractiveness to potential buyers. With the innovative, entrepreneurial traits and financial stability of Koenigsegg Group together with Koenigsegg’s time tested and proven capability to come up with world-class Swedish performance vehicles in a totally competent way, the deal is considered to be Saab’s best opportunity to come out a better company.

Source;
http://www.4wheelsnews.com/official-general-motors-has-reached-an-agreement-to-sell-saab/