GM Near Deal to Sell Saab
General Motors could be nearing a sale of its Swedish unit Saab.
In a statement titled “A new investor for Saab?” the company acknowledged this morning that speculation surrounding the deal has reached “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 finalized in the early summer,” Saab said. “Until then enjoy the increased speculation in the knowledge that the next chapter in Saab Automobile’s history is just around the corner.”
"GM is currently in negotiations with potential investors, these are private talks and we will not comment any further," wrote GM Europe spokeswoman Karin Kirchner in an email.
Since February, Saab has been reorganizing under Swedish bankruptcy protection. Today the company said that more than 80 percent of its creditors approved a deal to restructure its debt.
Swedish media outlets are reporting, citing unnamed sources, that Koenigsegg, a Swedish sports car group, has signed a letter of intent to buy the brand.
— Kendra Marr
June 12, 2009; 11:56 AM ET
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