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GM nears deal to sell Saab division
GM nears deal to sell Saab division
Posted Friday, Jun 12, 2009, 11:08 am in Employee News
Last modified on Friday, Jun 12, 2009, 11:13 am.
General Motors Corp. is nearing a deal to sell its Saab division as part of a broad restructuring that already has seen the automaker strike preliminary agreements with buyers for the Hummer and Saturn brands, The Detroit News reported.
Were in the final stages of talks with potential investors, GM spokeswoman Gunilla Gustavs said Thursday. The likely Saab buyer is luxury sports car maker Koenigsegg Automotive AB and Norwegian investors, according to a Swedish broadcast report.
Gustavs would not comment about that report, the paper said. Swedish broadcaster SVT, citing anonymous sources, said Koenigsegg and the investors had signed a declaration of intent to buy Saab, which filed for reorganization in February in the Swedish equivalent of a Chapter 11 bankruptcy, the story said. (The Detroit News)
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