Wednesday, September 09, 2009
Koenigsegg secures Saab funding
Koenigsegg Automotive, the high-performance sportscar maker, is poised to announce additional funding behind its purchase of Saab Automobile after weeks of uncertainty over the deal.
Koenigsegg has been scrambling to secure fresh investment to complete the acquisition of Saab from General Motors.
Officials at Saab and the Swedish government said Koenigsegg planned to announce a new financial plan in the coming days that would plug the roughly ?300 million shortfall, without needing further government aid.
Although the source of the finance is unconfirmed, speculation today (Tuesday, September 8) has centred on China' largest automaker, SAIC Motor, taking a stake.
Koenigsegg finalised terms with GM last month but warned that financing was not fully secured.
Completion of the deal will mark a step forward in GM's restructuring as it narrows its range of brands and offloads loss-making units.
DATED: 09.09.09
FEED: AW
