Super Street Network

 |   |   |  Koenigsegg Group AB Terminates Agreement For Purchase Of Saab - Web Exclusive

Koenigsegg Group AB Terminates Agreement For Purchase Of Saab - Web Exclusive

Nov 24, 2009 SHARE

DETROIT -- General Motors confirmed today that the proposed sale of its Saab subsidiary to Koenigsegg Group AB was terminated at the discretion of the buyer.

Epcp_0911_01_z+koenigsegg_group_ab_cancels_saab_purchase+logo Photo 2/2   |   Koenigsegg Group AB Terminates Agreement For Purchase Of Saab - Web Exclusive

"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson. "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."

SHARE ARTICLE

Photo Gallery

View Full Gallery

RELATED ARTICLES

BROWSE CARS BY MARKET

MORE FEATURES

Celebrating its 12th year at SEMA, Gran Turismo will be hosting its GT Awards and Party. The event highlights the unique collaboration between video games and auto industries.
Jofel TolosaOct 31, 2014
Scion will have another impressive showing at SEMA, with a retro xB, targa-topped FR-S and Slayer-themed tC
Alex NishimotoOct 30, 2014
This Scion should be easy to spot in crowded parking lots.
Erick AyapanaOct 30, 2014
Limited-edition Panamera priced at $264,895.
Kelly PleskotOct 30, 2014
A Texas take on the British muscle car.
Eric WeinerOct 30, 2014

SEARCH ARTICLES BY MAKE/MODEL

Search
TO TOP