Saab likely to close as GM fails to sell car brand (not even leftie Sweden will do buyouts!)
A deal for General Motors Co. to sell Saab to a specialty carmaker has collapsed, leaving the storied Swedish brand born from jets in 1947 close to extinction. Koenigsegg Group AB, a consortium formed by Swedish luxury sports car maker Koenigsegg Automotive AB, said Tuesday it pulled out of the deal in part because it was unable to agree with investors on how best to move the brand from mass-market to premium. For GM, it was the third time this year that a deal to shed one of its brands fell apart as it tries to recover from a stay...
Original Article: Forum: News/Activism
Tags: Buyouts, Car Brand, Car Maker, Carmaker, Consortium, Extinction, General Motors, Gm, Gm Car, Group Ab, Investors, Jets, Luxury Car, Luxury Sports Car, Mass Market, Saab, Sell Car, Shed, Sweden, Third Time