GM just announced that Koenigsegg backed out of their deal to purchase Saab. Not much information about it was given, and there is no word from Koenigsegg regarding why they decided not to purchase the GM subsidiary.
GM President and CEO, Fritz Henderson said:
We’re obviously very disappointed with the decision to pull out of the Saab purchase. Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.
We’ll keep you updated on any more information regarding this decision.