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Saab Deal Final?

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On: Tue, Aug 18, 2009 at 12:27PM | By: John Welch


Saab Deal Final?

Not quite. The Saab/Koenigsegg saga is nearing its end as Koenigsegg made their financial situation a little clearer this morning. If all parties are to be believed, Koenigsegg requires a significant loan from the European Investment Bank, in the name of Saab. This loan could total $413.6 million, and would officially make Saab a subsidiary of Koenigsegg (say it: Co-NeenG-Sag).

Saab has spent much of the last few months reorganizing its business model, cutting inventories and positioning themselves better to meet realistic demand. So, the deal is not final, however, according to Koenigsegg spokespeople it should be cut by the end of the month. GM is less optimistic, predicting final sale by the end of the year. GM has stated it and Saab would continue to share technology and services during a defined time period, which would be managed through licenses and service agreements. And possibly more prominent roles for Saabs in Michael Bay flicks . . .

A full write up can be found from The New York Times


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