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Supercar maker Koenigsegg takes over Saab

Posted by Hootan Mahallati | June 11, 2009 | In koenigsegg news saab supercars

GM has announced Swedish manufacturer of outlandish supercars, Koenigsegg, as the top bidder for Saab. Along with Norwegian investors, Koenigsegg will be receiving from GM $500 million in assets and cash, plus production equipment for a new Saab model as well as $150 million of cash already in Saab's account.

As far as automotive acquisitions go, this one is actually interesting. Saab has always been known for its quirky approach to car-making, a reputation that has perhaps been blunted by years of indifferent ownership by GM. While running a car company is an incredibly capital-intensive affair, worse things could happen to a troubled manufacturer like Saab than being taken over by a supercar company. Koenigsegg founder Christian Koenisegg is a passionate man who parlayed the fortune he made exporting frozen chickens to Lithuania into a car company that is still trying to claim the world's fastest car title. We are willing to bet that interesting things will once again emanate from Trollhättan.

[Source: Automotive News]

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