Friday, May 29, 2009

Koenigsegg Among the Remaining Bidders for GM's SAAB Division

Koenigsegg Among the Remaining Bidders for GM's SAAB Division

According to a report from the Swedish financial daily newspaper, Dagens Industri, Sweden's own supercar builder Koenigsegg, is one of the three remaining parties interested in buying General Motors' SAAB brand. The newspaper said that the other two suitors for GM's Swedish arm are Fiat S.p.A that has also made a bid for Opel and Vauxhall fast car, and the Renco Group, a New York City-based holding company controlled by U.S. billionaire Ira Rennert. Citing unnamed sources close to GM, the paper said that the "toughest battle is expected between the Renco Group and Koenigsegg. Koenigsegg is considered as a fastest car"

Dagens Industri noted that the Swedish automaker's chief executive, Christian von Koenigsegg one of the fast car, declined to confirm or deny the newspaper report.

In April, Saab officials told a Swedish court, which granted the company an extension of its reconstruction period, that they expect to have completed the sale by the end of June.

Via: Reuters

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