SAIC Might Buy Saab Stake

Koenigsegg has already reached an agreement with General Motors to purchase its Swedish unit Saab but it appears the the sports car manufacturer might agree to cease a passive stake in the company to SAIC Motor Group. The Chinese carmaker is apparently interested in taking over a part of the company, a source familiar with the matter was quoted as saying by Reuters.

Obviously, officials involved in the talks refused to comment on the rumors, but the source revealed that such a scenario pretty much depends on the future of SsangYong Motor.

"SAIC is considering taking a stake in Saab but has not made up its mind or the size of any possible investment,"
said the source. "If it finally decides to go ahead, it will most likely be the parent company rather that the listed SAIC that would take a stake in Saab."

Koenigsegg this week submitted a revised financing plan for Saab, informing the government that the company doesn't need an extra loan for completing the acquisition.

"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 at the beginning of September.

"They have presented us with a plan ... we will look at it from our side and decide how credible it is," State Secretary Joran Hagglund was quoted as saying by the source. "As I understand it, they will present information on the matter in the coming days."

Negotiations between the involved parties continue and a final decision is expected to be made in the upcoming months as Koenigsegg hopes to close the deal by the end of the year.
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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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