Who Will Save Saab Now?
A marriage between Saab and Swedish performance car maker Koenigsegg is over even before the ceremony was finished, raising questions of the brand’s long-term viability… General Motors, Saab’s cash-strapped US-based parent, issued a brief statement overnight announcing the merger would not take place after Koenigsegg pulled out of the deal.
‘‘We’re obviously very disappointed with the decision to pull out of the Saab purchase,” GM president Fritz Henderson said in a brief two-paragraph statement announcing the breakdown in the sale process.
‘‘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,’’ Mr Henderson said.
‘‘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.’’
Up until yesterday’s surprise announcement, the Koenigsegg deal had looked solid. The Swedish car maker had even announced it had struck a deal with a Chinese investor that was keen to expand the Saab line-up into China and other untapped markets.
via Sydney Herald
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