Published Articles

GM and Koenigsegg will purchase Saab

Although no money has changed hands, yet, apparently the deal has been signed and GM and Koenigsegg will purchase Saab Automobile AB. While little is known at this point, in regards to the actual numbers of the deal, rumors have been swirling about that the price was exceptionally low.

Here’s the Press Release:

General Motors and Koenigsegg Group Sign Stock Purchase Agreement for the Sale of Saab Automobile AB

  • The deal is expected to close by year’s end and will secure Saab’s future
  • The closing will be subject to funding agreements and other closing conditions
  • Saab Automobile plans to exit reorganization shortly


Zurich. General Motors Co. today confirmed it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab Automobile AB. The deal is expected to conclude in the next months and will then secure Saab’s future. Saab Automobile plans to exit legal reorganization shortly.

The stock purchase agreement will be subject to agreed closing conditions. Conditions to close the sale include expected funding commitments with Swedish government support and guarantees, as well as transitional assistance from GM, as Saab becomes independent. Saab is about to launch several new cars, developed with General Motors, that are in the final stages of development.

As part of the proposed transaction, GM and Saab will continue to share technology and services during a defined time period. This will be managed through licenses and service agreements.

“This contract is an important step in the journey to a potential deal, said Carl-Peter Forster, president of GM Europe. “Saab’s great cars, its unique design, safety- and engine-technology, as well as its excellent brand image, combined with Koenigsegg Group’s unique combination of innovation and entrepreneurial spirit, bode well for a successful future for the brand. We will continue to work with all parties to define the final details and ensure a fast closure of the deal, which we expect to take place in the next few months. The closure of the deal is contingent on the funding commitment from the European Investment Bank (EIB), guaranteed by the Swedish government,” Forster added.

“We have now concluded another important step in realizing the great potential of Saab,” said Christian von Koenigsegg, CEO of Koenigsegg Group. “Our plan is to transform Saab into a stand-alone vibrant entrepreneurial company and make it ’sustainable’ by making it profitable. We will revive Saab’s Swedish heritage of ecological sensitivity, safety, design innovation and ‘fun to drive’ experience!”


Jan Åke Jonssson, Managing Director of Saab, said: “This is excellent news for everyone connected to Saab around the globe. This is an important step to secure jobs and our long-term future as a Swedish carmaker. In the short-term, it will enable us to move forward with exciting new cars starting this month with the all new Saab 9-3X.”

Related posts:

  1. Saab may be sold in the near future — Spyker CEO has “big announcement” It is being reported by various sources that the never ending saga surrounding Saab may be coming to a close in the near future. The...

  2. Koenisegg shutting down 38% of Saab dealerships As reported by Automotive News, 81 of Saab’s 218 dealers got letters yesterday informing them that they had not been selected to continue as a...

  3. Bernie Ecclestone confirms his part in Genii’s late bid for Saab Long-time Formula One director, Bernie Ecclestone, told Bloomberg that he will take a stab at buying Saab from General Motors. The pitch will be part...

  4. Bank of America to hand over legal documents from the Merrill purchase — Andrew Cuomo victorious yet again Well, it is official; Andrew Cuomo gets what he wants. NY Attorney General, Andrew Cuomo has been pressing B of A to to turn over...

  5. Penske pulls out of GM deal Is Saturn done forever? We knew that there were issues surrounding the deal and certain inconsistencies, in reference to plans for the future of Saturn and its ownership,...

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment