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- Koenigsegg Pulls Out of Deal to Buy Saab
- By Nick Vinocur and Johannes HellstromSTOCKHOLM (Reuters UK) - Tiny Swedish luxury carmaker Koenigsegg has pulled out of talks to buy Saab Automobile, putting in doubt the future of General Motors' loss-making unit.Saab, which has made cars in Trollhattan, southwest Sweden, since 1949, employs 3,400 people, while thousands more jobs...
- News items 2009-11-24
- Blow for GM as Swedes pull out of Saab talks
- General Motors has failed for the second time in two months to sell a lossmaking brand to outside investors after a Swedish consortium pulled out of talks to buy Saab, the premium car marque, from the US carmaker.Fritz Henderson, GM chief executive, said the company was "disappointed" by the...
- News items 2009-11-24
- Koenigsegg secures Saab funds
- Koenigsegg Automotive, the high-performance sportscar maker, is poised to announce additional funding behind its purchase of Saab Automobile after weeks of uncertainty over the deal.The tiny Swedish manufacturer, which makes ?1m ($1.4m) "supercars" with a maximum speed of up to 245mph, has been scrambling to secure fresh investment to...
- External links 2009-09-07
- Tiny Scandinavian Supercar Company Buys Saab
- Saab is going back to Scandinavian owners, and will probably be all the better for it. The Swedish newspaper Svenska Dagbladet reported today that Koenigsegg, a tiny niche maker of ultra-fast sports cars, has signed a letter of intent to buy the venerable brand from General Motors. ...
- Blog posts 2009-06-12
- GM And Koenigsegg Sign Off On Saab Sale: Report
- GENERAL MOTORS has officially announced that it will sell 100 percent of Saab shares to a consortium lead by Swedish supercar manufacturer Koenigsegg. The deal still hinges on a hefty loan from the European Investment Bank which must be guaranteed by the Swedish Government, but should the loan be approved...
- News items 2009-08-19
Additional Resources
- GM, Koenigsegg sign deal on Saab sale :
- General Motors Co. reached a deal Tuesday to sell its money-losing Swedish subsidiary Saab to Koenigsegg Group AB. The companies signed a stock purchase agreement that would give the tiny Swedish supercar maker 100 percent of Saab's shares, GM Europe said in a statement. "This contract is an important step...
- News items 2009-08-18
- Saab says Goodbye to General Motors as it's sold to Koenigsegg
- Well, it's official. Zurich. General Motors Co. today confirmed it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab Automobile AB. The deal is expected to conclude in the next months and will then secure Saab's future. Saab Automobile...
- News items 2009-08-18
- GM completes Saab deal with Koenigsegg
- General Motors has finalised an agreement to sell its troubled Saab unit to Koenigsegg Automotive, the Swedish producer of high-performance supercars.The deal, which cements a provisional accord struck in June, will mark another step forward in efforts to restructure GM as the loss-making US carmaker narrows its range of...
- External links 2009-08-17
- Koenigsegg will not buy Saab after all
- Koenigsegg, a tiny Swedish manufacturer of $1-million exotic sports cars, announced today that it would not buy Saab from General Motors after all. Many observers had questioned whether the tiny exotic car maker that sells 18 cars a year with a staff of 45 could absorb an almost mainstream production...
- News items 2009-11-24
- Food Chain Reversed: Sweden's Koenigsegg to Buy Saab
- Funding from the European Investment Bank, a loan guarantee from the Swedish government, plus continued support from GM all went into a proposed deal to sell Saab to Koenigsegg. by Jim Henry
- Blog posts 2009-06-16
- GM to sell Saab to tiny Swedish carmaker
- STOCKHOLM - General Motors signed a deal on Tuesday to sell its Saab car business to a tiny Swedish luxury carmaker, the first in a series of big sales the U.S. group is planning as it slims down. The agreement comes after weeks of uncertainty about the degree of support...
- News items 2009-08-18
- Koenigesgg Saab purchase in doubt
- The future of Saab was thrown into doubt on Tueday after General Motors said a consortium led by Sweden's Koenigsegg had pulled out of talks to buy the premium car brand. Fritz Henderson, GM chief executive, said the company was "disappointed" by the niche carmaker's decision, and that GM would...
- News items 2009-11-24
- Breaking News: 37% of US Saab dealerships to close
- About 37 per cent of US Saab dealers will close as part of GM's planned sale of the ailing Swedish car brand to Koenigsegg Group AB, a GM spokeswoman said. About 37 per cent of US Saab dealers will close as part of General Motors Corp.'s planned sale of the...
- News items 2009-11-14
- Breaking News: Saab secures $A648 EIB loan
- Swedish carmaker Saab has been granted a loan of 400 million euros ($A648.58 million) by the European Investment Bank, the EU's long-term lending bank said. Swedish carmaker Saab has been granted a loan of 400 million euros ($A648.58 million) by the European Investment Bank, the EU's long-term lending bank said....
- News items 2009-10-21
- Uncertain fate clouds Swedish brand's 'new era'
- A huge banner on the side of Saab's main manufacturing plant in Trollhattan, Sweden, declares: "A new era has begun."The slogan is emblazoned above an image of the new version of Saab's flagship 9-5 model, scheduled to hit car showrooms next year.Those plans are now in doubt, together with...
- External links 2009-11-29
- GM to Consider Saab Sale Until Year End
- By David BaileyDETROIT (Reuters UK) - General Motors Co said on Tuesday that it would consider offers for its Saab brand until the end of the month and move to close the Swedish unit then if it appears that it cannot be sold.The announcement from GM came after a meeting...
- News items 2009-12-01
- Decision time looming for Saab brand
- General Motors said it would start to wind down its 60-year-old Saab car brand next month if it failed to find a suitable buyer by the end of the year.GM said its board had received expressions of interest in the lossmaking Swedish brand since the collapse of a bid...
- External links 2009-12-01
- GM deal to sell Saab brand collapses
- DETROIT - General Motors Co. said Tuesday Swedish specialty car maker Koenigsegg Group AB has ended plans to buy GM's Saab brand. The board of General Motors Co will meet next Tuesday to consider the fate of Saab, a person familiar with direct knowledge of the matter said Tuesday. GM...
- News items 2009-11-24
- Saab Sale Collapses as Buyers Back Out
- By Kevin Krolicki and David BaileyDETROIT (Reuters UK) - A deal for General Motors Co GM to sell its Saab brand collapsed on Tuesday when the buyer pulled out in a move that threatens the Swedish luxury brand with closure.GM had been aiming to close a deal by the end...
- News items 2009-11-24
- Germany Takes Brunt of Opel Job Cuts
- By Angelika Gruber and Johan SenneroRUESSELSHEIM/STOCKHOLM (Reuters UK) - General Motors targeted Germany on Wednesday for the bulk of 9,000 planned job cuts at European arm Opel, turning the tables on the country that lobbied hardest for an Opel sale to Canada's Magna.At the same, the U.S. automaker cast around...
- News items 2009-11-25
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