The takeover deal is not quite signed and sealed, however, as it remains contingent on a bank loan from the European Investment Bank which must in turn be guaranteed by the Swedish government.
"This contract is an important step in the journey to a potential deal" says Carl-Peter Forster, president of GM Europe. "Saab's great cars, its unique design, safety- and engine-technology, as well as its excellent brand image, combined with Koenigsegg Group's unique combination of innovation and entrepreneurial spirit, bode well for a successful future for the brand. We will continue to work with all parties to define the final details and ensure a fast closure of the deal, which we expect to take place in the next few months."
The Volvo Truck Corporation - which sold the Volvo car business to Ford in 1998 - is even rumoured to be involved with the Jakob AB bid, but this has been officially denied.