Koenigsegg Not Buying SAAB | Motoring News | Honest John

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Koenigsegg Group AB Terminates Agreement For Purchase of Saab


General Motors confirmed on 24-11-2009 that the proposed sale of its Saab
subsidiary to Koenigsegg Group AB was terminated at the discretion of
the buyer.

“We’re obviously
very disappointed with the decision to pull out of the Saab purchase,”
said GM President and CEO, Fritz Henderson.  “Many have worked
tirelessly over the past several months to create a sustainable plan
for the future of Saab by selling the brand and its manufacturing
interests to Koenigsegg Group AB. Given the sudden change in direction,
we will take the next several days to assess the situation and will
advise on the next steps next week.”