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Koenigsegg Group AB Terminates Agreement For Purchase of Saab

Koenigsegg Group AB Terminates Agreement For Purchase of Saab  
Filed under:
News, General Motors
on 11/25/2009

Source: GM

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."



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