Koenigsegg set to buy Saab - report

Koenigsegg Quant

By Thami Masemola
June 12, 2009 12:01 AM
Filed Under: Corporate/Financial, European, Koenigsegg, Saab

A report by the Swedish television station SVT says that Saab has been offloaded to Swedish supercar maker Koenigsegg. Posted on SVT's website were the words "The buyers have signed a letter of intent to buy Saab... Final negotiations about details on the deal will go on in the next months."

SVT tried to get comment from both Koenigsegg founder and CEO Christian von Koenigsegg and current Saab owner General Motors. GM declined to speak while Koenigsegg could not comment as he was on the move somewhere.

The deal is said to involve a group of allegedly deep-pocketed Norwegian investors and could be finalised before the end of July. GM has put a "for sale" sign on Saab as part of its road back to financial health after it emerged that the company was in financial trouble. Both companies are making massive losses as they struggle with sagging sales and deep debts.

Source: reuters and SVT

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GM and Koenigsegg sign 100 percent stock purchase agreement for Saab (7 comments
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Comments

desiathate

June 12, 2009 1:47 AM

I think this would be interesting

norther

June 12, 2009 2:11 AM

i repeat.... best news all year. what is european, should belong to europeans.

mcoopers81

June 12, 2009 2:23 AM

You couldn't have said it any better norther. European car manufactures mustn't sell to greedy American manufactures.

thamzn

June 12, 2009 2:25 PM

Better sell to greedy Europeans then...?

Airbag

June 12, 2009 4:56 AM

Do it, make a Koenigsegg powered Aero X as a halo vehicle to relaunch the brand and watch the Germans start quaking.

Wickedated

June 12, 2009 5:07 AM

1) Great car news, perfect mating Saab and Koenig, keeping it in Sweden. If I were Swedish I'd be proud. Then again, I'm not. Nobody cares about Saab in North America. Who drives a Saab?

Edited by user on June 12, 2009 at 5:07 AM

loyo

June 12, 2009 5:11 AM

Jerry Seinfeld

Xanavi23

June 12, 2009 5:43 AM

Damn right Loyo. Jerry Sienfield had the 900S, if im not mistaken.

Saabs are cool cars, i love their turbo engines. The last generation 9-3 was an awesome looking sport sedan, even the new one is pretty nice. The new 9-5 with the slightly weaker 260hp turbo engine is pretty sweet too.

Koennigseggs ownership has the potential to make Saab an top level company, could also reap boons for K.

radmeister

June 15, 2009 7:31 AM

Our first car in Ontario was a 900SPG (amazing car) then we got a 9000 Aero Hatch, also a great car. I bought my 9-5 Aero in 2005 and slowly started doing some small time mods, by the time i knew it i had in the area of 330hp. Nice coil-over suspension with adjustable Koni shocks, the car handled like it was on rails and still kept a smooth ride. And let me tell you the speedo says 270km/h and it will do it no prob. Mine got up to 282km/h(GPS) and i could take my hands off the wheel and the car went straight. They are fabulous cars but over time they have started to degrade in quality and uniqueness since GM bought them. They are the swedish equivalent of Alfa Romeo.

Hexatron

June 12, 2009 1:22 PM

Great news. I hope that Koenigsegg has enough money in the piggy bank to raise Saab to glory and wealth.

fujiturbo

June 12, 2009 3:02 PM

Who drives SAAB? Well, i think sabbys are excellent, cars, they have made consistent cars and yes their engines are good.I don't own one but i drove one a few times i think it's a very comfortable car.

Vlad

June 12, 2009 3:03 PM

Yes, this is perfect news. Hope it becomes a reality.

Prince_Ash

June 12, 2009 3:23 PM

that sounds wicked! cant wait to see what koenigsegg is going to do to reform it.

June 12, 2009 8:28 PM

Superb~!

Go and take it, Koenigsegg plus Saab!!!

alessandro

June 13, 2009 6:35 PM

Great! Hei Sverige!

bILLIONAIRE

June 15, 2009 4:02 PM

Great! Hei Norge! Eker & Co. Saab blir norsk!

GTurbo

October 30, 2009 4:55 PM

Never mind the fact a specialist sportscar firm is more profitable than a volume niche firm. This is the kiss of life that SAAB badly needed! Swede relations at its best. See what happens when European car firms end up in Asian hands? Rover/MG are now Nanjing. Who's interested in Rovers or MGs now? Now it's Geely's turn to snap up Volvo, thanks to Ford. Nuff said. However, Tata is showing them how it's done with Jaguar/Land Rover. When you throw Euro assets into Continental hands, it's Tata (excuse the pun)! The Quant's 'production' should now be quantifiable success!

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