General Motors finally unloads Saab

Jonathan Berr

General Motors Corp. (GMGMQ), the bankrupt U.S. automaker that is jettisoning brands as it reorganizes, has unloaded Saab, the Swedish car company that tried for years to make inroads into the American market.

According too Reuters, Swedish television is reporting that Swedish luxury carmaker, Koenigsegg, and Norwegian investors have signed a letter of intent to buy the money-losing automaker. The investors beat out rivals including U.S.-based The Renco Group and Merbanco Inc. The deal may take several months to close (for reasons the article does not make clear).

  • DJI30996.98-179.03-0.57%
    NASDAQ13543.0612.150.09%
    S&P 5003841.47-11.60-0.30%
  • NIKKEI 22528631.45-125.41-0.44%
    Hang Seng29447.85-479.91-1.60%
    DAX13873.97-32.70-0.24%
  • USD (PER EUR)1.220.00010.01%
    USD (PER CHF)1.130.00040.03%
    JPY (PER USD)103.750.24500.24%
    GBP (PER USD)1.37-0.0046-0.33%