Saab Sold, Except for the, Um, Money
Saab Sold, Except for the, Um, Money
Gotta love the world of international auto industry deals, post-financial-collapse. General Motors (MTLQQ) wants to get rid of Saab, which is bankrupt in Sweden. An unlikely buyer, in the form of Koenigsegg, a builder of ridiculously un-Saab-ish supercars, emerged. The deal has wobbled, but now appears to be official. Except of course for the small matter of ... money! It looks as if Koenigsegg is still trying to fund the purchase through loans from the Swedish government and the European Investment Bank. I have the same question I always have: Is this just a stopgap to keep Saab from going under and liquidating, with Koenigsegg acting as an indigenous, Swedish management front? Or does the esoteric carmaker actually have ambitions to sell Saabs to customers who would otherwise be thinking BMW or Audi?
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