GM and Koenigsegg Group AB reach tentative agreement
General Motors Corp and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, have announced the details of a memorandum of understanding for the purchase of Saab Automobile AB that will secure Saab’s future. Koenigsegg is a well established Swedish sports supercar manufacturer.
Saab Crossover
The sale which is expected to be finalised in quarter three this year includes a $600 million funding commitment from the European Investment Bank ( EIB) guaranteed by the Swedish Government.
GM Europe President, Carl-Peter Foster said ” This is yet another significant step in the reinvention of GM and its European operations. Saab is a highly respected automotive brand with great potential. Closing this deal represents the best chance for Saab to emerge a stronger company”.
Tags: general motors europe, koenigsegg sports cars, saab
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