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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

By Sara Goo  |  June 12, 2009; 11:56 AM ET
Categories:  The Ticker  
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Comments

Did Saab ever make a profit under G.M. management?

Posted by: The-Historian | June 12, 2009 3:00 PM | Report abuse

In 1995, following the release of the New Generation 900S, they posted a small profit. GM owned 50% of Saab at the time and only purchased the remaining 50% after Ford purchased Volvo

Posted by: SO4XWIN | June 12, 2009 3:47 PM | Report abuse

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