Koenigsegg moves closer to Saab takeover
Wednesday 19 August 2009
Koenigsegg Group AB, a consortium of investors which counts the Swedish super-car manufacturer Koenigsegg Automotive AB among its members, has moved a step closer to buying Saab from General Motors.
The two groups have signed a stock purchase agreement for the sale of Saab Automotive AB and the transaction is expected to be completed by the end of this year, provided that the Swedish government provides certain guarantees and support. Saab will continue to work closely with General Motors via licences and service agreements, as its existing products and the new models it has in the pipeline were developed under GM and use GM parts and technologies.
GM ownership has provided Saab, one of the smaller mainstream manufacturers in global terms, with a certain degree of protection against the harsh competitive forces that prevail in the motor industry - but at the expense of diluting the Saab's previously distinctive identity somewhat. Provided the numbers can be made to stack up, Koenigsegg, a nimble, engineering-led Swedish outfit, could just be the right owner to restore Saab's particularly quirky brand of magic.
The Microsoft mogul told fans a few home truths during his Reddit AMA
Life & Style blogs
Snapchat removed the Best Friends list feature and 'stalkers' are upset
Baldness could soon be treated using stem cells, scientists hope
A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
Eight-year-old girl Camilla Lisant suggests possible cancer treatment to her scientist father over the dinner table
Lack of medically trained staff leaves NHS 111 phone service struggling to cope, insider claims
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
- 1 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 3 Ball pool for adults opens in London
- 4 Baldness could soon be treated using stem cells, scientists hope
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£120 - £180 per day: Tradewind Recruitment: The Humanities Department of this ...
£120 - £180 per annum: Tradewind Recruitment: Newham Position: Music Start dat...
£120 - £150 per day: Tradewind Recruitment: Sutton Position: Science teacher S...