Koenigsegg is raising capital for the acquisition of Saab

Posted on Thursday, 3 September 2009 , 07:09:35 byEmil

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Koenigsegg is raising capital for the acquisition of Saab

Swedish sports carmaker Koenigsegg is raising funds to complete the Saab acquisition from General Motors, a move that is expected to occur as soon as next week. Swedish newspaper Dagens Industri yesterday wrote that the takeover will most likely proceed quickly and Koenigsegg won't need extra money from the local government.

A source said 'Koenigsegg no longer needs any extra loan from the Swedish state but can handle the financing with the help of GM and new investors' .

Christian von Koenigsegg – the CEO said last week in an interview that talks with Saab and the government in Sweden developed quickly, so the firm expects acquisition's close in the same manner somehow.

Saab got out of bankruptcy on 20th of August after the ex GM brand covered a 1.1 billion Dollars debt. 'From our perspective, it was actually quite fast. It was only about eight or nine weeks ago that we started getting into the details of Saab, and now we’ve reached so far to sign a Share Purchase Agreement' he affirmed in a video interview on fastestcar.com. 'We have great plans for the future of Saab. We’ll be doing our utmost to build an exciting, strong company, and of course that’s good for the Saab employees as well'.

GM Europe president, Carl-Peter Forster unveiled additionally some weeks ago: negotiations continue, but the deal will be completed maybe in the 'next few months'. 'Saab's great cars, its unique design, safety- and engine-technology, as well as its excellent brand image, combined with Koenigsegg Group's unique combination of innovation and entrepreneurial spirit, bode well for a successful future for the brand. We will continue to work with all parties to define the final details and ensure a fast closure of the deal, which we expect to take place in the next few months' he affirmed.