Report: Koenigsegg is bidding for GM’s Saab

Other than Ira Rennert’s Renco Group and Fiat, luxury supercar maker Koenigsegg is among the remaining bidders for General Motors’ Saab brand. According to Swedish business daily, Dagens Industri, Saab has narrowed down its list of suitors to three and hopes to have a deal finalized in the coming weeks.

“According to sources close to GM the toughest battle is expected between U.S. billionaire Ira Rennert and Swedish carmaker Koenigsegg,” the publication reported said.

The newspaper said that the Koenigsegg family is lining up financing consisting of a group of “very wealthy people.”

Saab is hoping to get an extension of its protection from creditors by Swedish court later today.

– By: Omar Rana

Source: Reuters