Koenigsegg’s take over of Saab cancelled!
Koenigsegg has announced that it will not proceed with the take-over of the Saab auto company from its current owner General Motors. This comes to a surprise as recently in June, the company revealed that it has reached a preliminary agreement indicating that the discussions have entered the final stages. According to Koenigsegg, the deal has been cancelled due to delays in completing it. Apparently certain risks and uncertainties have emerged.
“We regret that after six months of intense and goal-oriented work we have come to the painful and difficult conclusion that we are not going to be able to carry out the acquisition of Saab Automobile,” said Koenigsegg’s head Christian von Koenigsegg. One wonders what will happen to Saab as General Motors previously revealed that if the brand is not sold by end of the year, it will shut it down.
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