Koenigsegg Raises Money for Saab Acquisition

Swedish sports carmaker Koenigsegg is raising funds to complete the Saab acquisition from General Motors, a move that is expected to occur as soon as next week. Swedish newspaper Dagens Industri yesterday wrote that the takeover will most likely proceed quickly and Koenigsegg won't need extra money from the local government.

"Koenigsegg no longer needs any extra loan from the Swedish state but can handle the financing with the help of GM and new investors," a source close to the matter said commenting on the development of negotiations.

CEO Christian von Koenigsegg said in an interview last week that talks with both Saab and the Swedish government developed pretty fast, so the company expects to close the acquisition in a similar manner.

“From our perspective, it was actually quite fast. It was only about eight or nine weeks ago that we started getting into the details of Saab, and now we’ve reached so far to sign a Share Purchase Agreement," he said in a video interview published by “We have great plans for the future of Saab. We’ll be doing our utmost to build an exciting, strong company, and of course that’s good for the Saab employees as well."

Additionally, Carl-Peter Forster, GM Europe president, revealed a few weeks ago that negotiations with the involved parties continue, but hinted that the deal might be completed in the "next few months". “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," he said.

Saab stepped out of bankruptcy on August 20th after the former GM brand managed to cover a debt of $1.1 billion.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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