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GM, Koenigsegg sign agreement advancing Saab sale
GM, Koenigsegg sign agreement advancing Saab sale
Posted Tuesday, Aug 18, 2009, 1:52 pm in Employee News
General Motors Co. reached a deal Tuesday to sell its money-losing Swedish subsidiary Saab to Koenigsegg Group AB, Automotive News reported.
The companies signed a stock purchase agreement that would give the group 100 percent of Saab’s shares, GM Europe said in a statement. Koenigsegg Group is a consortium of private investors that includes Koenigsegg Automotive AB, a tiny Swedish maker of $1 million supercars, the publication said.
The agreement comes after weeks of uncertainty concerning the level of support for the bid from Koenigsegg’s backers, after a preliminary deal for the sale was struck in June, the paper said. The Swedish government is negotiating with Koenigsegg on a possible guarantee for a loan to Saab from the European Investment Bank. Sweden’s industry ministry said several steps remained to be taken before a transaction could be concluded, the story said. (Automotive News)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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