Posts Tagged ‘Koenigsegg’

General Motors and Koenigsegg Group Sign Stock Purchase Agreement for the Sale of Saab Automobile AB

Tuesday, August 18th, 2009
Jan Åke Jonsson, MD of Saab Automobile, and Christian von Koenigsegg, CEO of Koenigsegg Group
© GM Corp.

Zurich — General Motors Co. today confirmed it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab Automobile AB. The deal is expected to conclude in the next months and will then secure Saab's future. Saab Automobile plans to exit legal reorganization shortly.

The stock purchase agreement will be subject to agreed closing conditions. Conditions to close the sale include expected funding commitments with Swedish government support and guarantees, as well as transitional assistance from GM, as Saab becomes independent. (more…)

General Motors and Koenigsegg Group AB Reach Tentative Agreement on Saab

Tuesday, June 16th, 2009

Zurich — General Motors Corp. and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, today confirmed the details of a memorandum of understanding for the purchase of Saab Automobile AB that secures Saab's future.

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 (EIB) guaranteed by the Swedish government. Additional support is to be provided by GM and Koenigsegg Group AB to fund Saab's operations and product program investments. This includes plans to launch several new products that are in the final stages of development. Saab had filed for reorganization under Swedish Law on Feb. 20, 2009. This tentative agreement is a key milestone for Saab to successfully emerge from its reorganization process. (more…)