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Investor sells 22% stake in Koenigsegg
Investor sells 22% stake in Koenigsegg
Posted Tuesday, Aug 11, 2009, 1:48 pm in Employee News
North American investor Mark Bishop has sold his 22 percent stake in Koenigsegg, the luxury car maker that plans to buy General Motors Co.’s Saab unit, Swedish business daily Dagens Industri reported on Tuesday, Reuters said.
“A new owner has taken over his shares and the negotiations between General Motors and Koenigsegg Group continue according to plan,” a source was quoted by the newspaper as saying. Swedish niche sports car maker Koenigsegg struck an accord in June to buy Saab from GM, backed by U.S. and Norwegian investors. The deal is set to close by the end of the third quarter, Reuters said.
Bishop had the second-largest stake in Koenigsegg, the news service said. Some media reports said Bishop is pulling out because of the publicity over Koenigsegg’s offer for Saab, Reuters reported.
Saab and GM and Koenigsegg plan to meet this week with the Swedish government about a state guarantee for a 4.3 billion Swedish crown ($593 million) loan from the European Investment Bank that would form part of the financing for the acquisition, the story said (Reuters/Automotive News)
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Rick
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