Swedish car firm Koenigsegg may acquire GM's Saab: report

12 June 2009

Swedish luxury sports car maker Koenigsegg backed by Norwegian investors is reported to be in the process of acquiring Saab Automobile from General Motors.

A Swedish television report citing unconfirmed sources said on Thursday that Koenigsegg has signed a letter of intent to buy Saab.

"We are getting close to a deal done, but there are some final steps to be taken," the report quoted a source close to the matter as saying.

Both Saab and its parent company GM declined comment. But UK daily `The Financial Times' had named Koenigsegg and US investment firms Renco and Merbanco as possible bidders.

Media reports had also pointed to Italy's Fiat as another possible buyer..

''These are extremely exciting times for Saab and as we move closer to securing new investment the media speculation is at fever pitch. To set the record straight there has been no official announcement relating to any potential investors but rest assured our negotiations are on track and we expect to have a new ownership structure finalised in the early summer.