Koenigsegg Group AB Terminates Agreement For Purchase of Saab

[6 Shooter]

DETROIT -- General Motors confirmed today that the proposed sale of its Saab subsidiary to Koenigsegg Group AB was terminated at the discretion of the buyer.

"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson. "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."

GM Media - United States - News & Information

 

[catbert]

Koenigsegg happens - or not.

 

[Tuna]

The report in my local paper said that Koenigsegg and his other investors couldn't agree on the direction they wanted to take Saab. So, everyone bailed on the deal. Unless another group steps up to buy Saab, Saab will be in the same boat as Saturn and Pontiac.

 

[vett boy]

The report in my local paper said that Koenigsegg and his other investors couldn't agree on the direction they wanted to take Saab. So, everyone bailed on the deal. Unless another group steps up to buy Saab, Saab will be in the same boat as Saturn and Pontiac.

And we (yes we ,the owners of GM) can add the Volt in the near future .If I had a choice Ida preferred Ford stock .

 

[njlouc]

IF........
GM wastes enough time AND the economy turns around, AND they have good product/advertisements, AND they have some great leadership, they may be able to restore all their divisions and go back in buisness as a major leader.
Never!!

 

[sweabe]

Sad story if this goes down the drain together with other famous brands