SWEDEN: Koenigsegg tipped to buy Saab
Swedish supercar producer Koenigsegg and a consortium of Norwegian investors are in exclusive negotiations to buy General Motors's Saab division, according to media reports citing people close to the talks.
Koenigsegg, a privately-owned company based near Malmo, "has the best overall offer", according to media sources, and is said to be interested in applying its knowledge of high-end niche sports cars to a higher-volume carmaker.
Bankrupt GM has previously said it was selling the rights to its Hummer brand to China's Sichuan Tengzhong Heavy Industrial Machinery and the Saturn brand to Penske Automotive Group.
GM has also said it would put US$500m of assets and cash into a new Saab company.
Saab filed for reorganisation under Swedish bankruptcy protection in February and GM said it wanted to dispose of the brand by the end of the year.