autoevolution
 

GM and Koenigsegg Sign Stock Purchase for Saab

Unlike the other GM European unit, Opel, Saab's sale seems to go much smoother, as today GM announced a new step was taken for completing the sale of the Swedish manufacturer. Together with buyer Koenigsegg, GM signed a stock purchase agreement for the complete sale of Saab.

This new development comes amidst speculation the deal might be in difficulty due to the investors who backed the Swedish sports car manufacturer and were rumored to plan to pull out of negotiations.

The next step is to present the agreement for approval to the Swedish government. After that, GM expects the sale will be concluded in the next months, as soon as Saab exits bankruptcy protection. As part of the transaction however, GM will not cut all ties with Saab and will continue to provide technology and services during a defined time period, through licenses and service agreements.

"This contract is an important step in the journey to a potential deal," Carl-Peter Forster, GM Europe president said when announcing the new development. “Saab's great cars, its unique design, safety- and engine-technology, as well as its excellent brand image, combined with Koenigsegg Group's unique combination of innovation and entrepreneurial spirit, bode well for a successful future for the brand. We will continue to work with all parties to define the final details and ensure a fast closure of the deal, which we expect to take place in the next few months."

Our plan is to transform Saab into a stand-alone vibrant entrepreneurial company and make it ‘sustainable’ by making it profitable. We will revive Saab’s Swedish heritage of ecological sensitivity, safety, design innovation and ‘fun to drive’ experience," Christian von Koenigsegg, Koenigsegg Group CEO added.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Daniel Patrascu
Daniel Patrascu profile photo

Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
Full profile

 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories