Swedish supercar maker Koenigsegg’s bid to buy Saab looks to have succeeded, after General Motors reached a tentative agreement with the Koenigsegg Group to sell its Swedish luxury brand.
The Koenigsegg Group, a consortium of investors led by the supercar maker, emerged last week as bidders for Saab. Part of the deal will be a £367 million funding boost from the European Investment bank, backed by the Swedish government.
In a statement, GM Europe boss, Carl-Peter Forster, said: "Koenigsegg Group's unique combination of innovation, entrepreneurial spirit and financial strength... made it the right choice for Saab as well as for General Motors."
It has not been revealed how much Koenigsegg will pay for Saab, although some analysts have suggested that no money will change hands between the investors and GM for the sale of Saab and its assets. The deal is expected to be finalised by the end of September.
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