Saab sold to Koenigsegg
June 16th, 2009 by Richard Aucock
SAAB has been sold to Swedish specialist supercar manufacturers Koenigsegg, GM has confirmed.
The deal follows speculation covered here in Car Dealer Magazine – and means big changes for the premium Audi-rivaling car maker.
GM Europe says that a memorandum of understanding has been reached, with a final deal expected by the end of September.
No further details have yet been announced, but the deal includes a $600m contribution from the European Investment Bank.
Additional funding will come from both GM and Koenigsegg Group. GM will carry on supplying platforms and engines to Saab for a ‘defined time period’, and the launch of the new 9-5 will go ahead.
‘This is yet another significant step in the reinvention of GM and its European operations,’ said GM Europe President, Carl-Peter Forster.
‘Saab is a highly respected automotive brand with great potential. Closing this deal represents the best chance for Saab to emerge a stronger company.
‘Koenigsegg Group’s unique combination of innovation, entrepreneurial spirit and financial strength, combined with Koenigsegg’s proven ability to create world-class Swedish performance cars in a highly efficient manner, made it the right choice for Saab as well as for General Motors.’
Come back to us, for more news and reaction to the deal!
By Richard Aucock
Tags: GM, koenigsegg, saab