No sale: GM's Saab deal falls apart after Swedish buyer pulls out


It seems General Motors (GRM) isn't have any better luck at selling pieces of itself than it is at selling its cars and trucks. A deal struck by the Detroit-based company in June to sell its Saab unit fell apart Tuesday, according to news reports, threatening an end to the Swedish manufacturer of niche automobiles.

GM had hoped to seal the deal on the sale of Saab to a consortium led by Swedish luxury car builder Koenigsegg Group at the end of next month. But on Tuesday, Koenigsegg suddenly pulled out after it was unable to secure financing in time to close the deal.