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Old 06-16-2009, 05:03 AM   #1
RastaMon
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Default Koenigsegg Agrees to Buy GM's Saab Unit

http://online.wsj.com/article/SB1245...googlenews_wsj

Quote:
STOCKHOLM -- Swedish car maker Koenigsegg Group AB has reached an agreement to acquire General Motors Corp.'s Saab Automobile AB unit for an undisclosed sum, the companies said Tuesday.

"Closing this deal represents the best chance for Saab to emerge a stronger company," said GM Europe President Carl-Peter Forster.

The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank guaranteed by the Swedish government, the companies said in a statement.

"Today's announcement is great news for Saab's current and future customers, dealers, suppliers and employees around the globe," said Jan Ake Jonsson, managing director of Saab.

As part of the proposed transaction, GM will continue to provide Saab with design and powertrain technology during a defined time period.

Saab, part of GM since 2000, was granted bankruptcy protection in Sweden Feb. 20 after GM said it wanted to offload the unit by the year's end.

GM has been trying for months to find a buyer for Saab, and people familiar with the situation said last week that a deal with Koenigsegg could be reached soon.

The Swedish government said Thursday it had authorized its National Debt Office to start formal discussions about the state guaranteeing a 500 million ($689.8 million) loan that Saab has sought from the European Investment Bank.

GM itself filed for protection from its creditors earlier this month.

Last year, Saab sold a little less than 94,000 cars. It employs about 3,400 workers, most at its main factory in Trollhattan in southwestern Sweden.
As a former Saab owner, I like this.
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Old 06-16-2009, 05:08 AM   #2
hondaeater69
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it's funny how these companies are now "trying to find buyers" for all the companies they absorbed over the years.

ok it's not really funny.
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Old 06-16-2009, 07:49 AM   #3
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Wirelessly posted (BB 8900: Opera/9.60 (J2ME/MIDP; Opera Mini/4.2.14320/432; U; en) Presto/2.2.0)

They were doomed once they stopped using subaru engines and transmissions.
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Old 06-16-2009, 07:50 AM   #4
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Some A****** Assembled Backwards
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Old 06-16-2009, 08:22 AM   #5
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Something An A****** Bought
Slow And Always Broken
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Old 06-16-2009, 08:39 AM   #6
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So will we see a Supercar-ish version of the Viggen? Please Please Please!
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Old 06-16-2009, 08:49 AM   #7
waktasz
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I heard they bought it so they could have exclusive rights to this awesome color. They plan to decommission all of the cars.

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Old 06-16-2009, 08:51 AM   #8
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Quote:
Originally Posted by sean96gsr View Post
Shi**y And Always Broken

Fixed
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Old 06-16-2009, 08:58 AM   #9
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You spelled Koeniggsesgggseiigseggseiggsegg wrong in the title.
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Old 06-16-2009, 09:17 AM   #10
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Having a 9000Aero in college I can tell you not only would it beat the pants off any wrx, but it had some sweet seats and interior - rear leather bucket seats ....it was lux baby and girls loved to slide around in them.
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Old 06-16-2009, 09:29 AM   #11
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i never liked the shape of the older saabs, the newer stuff is ok, some down right sexy
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Old 06-16-2009, 09:37 AM   #12
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As a former (and continuing) classic Saab nut myself, I find this to be FREAKING AWESOME.
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Old 06-16-2009, 09:41 AM   #13
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Quote:
Originally Posted by MidnightSti05 View Post
Having a 9000Aero in college I can tell you not only would it beat the pants off any wrx, but it had some sweet seats and interior - rear leather bucket seats ....it was lux baby and girls loved to slide around in them.

oh you were "that" guy in college.


i rocked a






boom pow.
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Old 06-16-2009, 09:52 AM   #14
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Perhaps they will add an anus looking exhaust (like the CCX) to Saab's big booty cars.
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Old 06-16-2009, 09:55 AM   #15
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I miss my 99 Viggen...

theres another for sale local, but the guy wants $10,000
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Old 06-16-2009, 11:00 AM   #16
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Quote:
As part of the proposed transaction, GM will continue to provide Saab with design and powertrain technology during a defined time period.
Why don't they want Saab to succeed?
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Old 06-16-2009, 11:02 AM   #17
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As a former Saab owner I still won't buy one ever again.
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Old 06-16-2009, 11:05 AM   #18
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Quote:
Originally Posted by Dolphin Overton View Post
As a former Saab owner I still won't buy one ever again.
So you're saying you're NOT pretentious. Good work.
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Old 06-16-2009, 11:05 AM   #19
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Quote:
Originally Posted by Dolphin Overton View Post
As a former Saab owner I still won't buy one ever again.
This. My first car was an 88 9000 turbo and my third was a ng900 turbo. Loved them at first but very expensive to keep running.
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Old 06-16-2009, 11:09 AM   #20
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My Saab has been great (of course - it is a subaru)!

This is an interesting and perplexing union. How will a company of 50 employees (who made maybe 20 cars last year) merge with and adequately run a big(ger) organization like Saab?
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Old 06-16-2009, 11:18 AM   #21
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Quote:
Originally Posted by jpicheva View Post
My Saab has been great!
Me too!

Actually, the only thing that was made by Saab on this car is broken - the badge.
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Old 06-16-2009, 11:20 AM   #22
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Quote:
Originally Posted by Stickee View Post

Actually, the only thing that was made by Saab on this car is broken - the badge.
same here - but the saab dealer replaced it for free

i see a lot of saab badges with all the color worn off
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Old 06-16-2009, 11:23 AM   #23
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Quote:
Originally Posted by jpicheva View Post
same here - but the saab dealer replaced it for free

i see a lot of saab badges with all the color worn off
I sent the local dealership an email about it and they never replied. Thinking about getting a couple of the black ones that are posted on saab92x.com.

/threadjack
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Old 06-16-2009, 11:40 AM   #24
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Swedish Automobiles Always Break
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Old 06-16-2009, 12:01 PM   #25
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I just want a 900 hatchback with those helical doors on the Koenigsesgnsgng CC
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