Koenigsegg signs letter of intent to purchase Saab from GM

It was reported last month that Koenigsegg was one of the potential buyers of General Motor’s Saab brand. Reuters said today that Swedish television is reporting that Koenigsegg and Norwegian investors have signed a letter of intent with General Motors to buy Saab.

“The buyers have signed a letter of intent to buy Saab,” SVT said on its website. “Final negotiations about details on the deal will go on in the next months.”

Saab went up for sale earlier this year. A deal is expected to be announced at the end of June or early July.

– By: Omar Rana

Source: Reuters