BREAKING: Koenigsegg backs out of Saab purchase, brand future up in the air

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Nov 24, 2009 | 01:33 PM

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From: Zoo York

BREAKING: Koenigsegg backs out of Saab purchase, brand future up in the air

Looks like SAAB may be gone after all?

PRESS RELEASE:

Koenigsegg Group AB Terminates Agreement For Purchase of Saab

2009-11-24

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."

Nov 24, 2009 | 01:39 PM

Sideways_swe

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Sideways_swe has a reputation beyond repute

not surprised at all, you cant buy something that you cant afford

Nov 24, 2009 | 01:54 PM

STOPPIE

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https://teamspeed.com/forums/off-top...no-longer.html

https://teamspeed.com/forums/off-top...saab-deal.html

Nov 24, 2009 | 01:55 PM

STOPPIE

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Joined: Oct 2009

Posts: 12,273

Mark my words: GM will be gone, inside of 5-6 years.

They have the cancerous touch.

Dec 3, 2009 | 11:25 PM

Baron

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From: Oxford, CT

if ur surprised u should seriously let someone else handle your investments, how could a car company that sells a car every other year, wild guess, buy pizza lunch for its employees once a month never mind a failing part of a failing corporation...