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Article: Saab Has Bidder.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- June 15, 2009
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Byline: Jonathan Marino
Beleaguered US automaker GM has finally found a buyer for its Swiss automaking platform, Saab, according to multiple reports.
Svenska Dagbladet, a Swiss media company, reported that Bard Eker, 49% owner of the buyer, will execute the deal with the backing of Norwegian and North American investors. Koenigsegg itself has struggled to turn a profit, only generating marginal gains in 2008. Saab has predicted a return to profitability by 2011, it has lost $340 million in 2008 and forecast similar losses for this year.
The reorganization is expected to take about three months.
Koenigsegg Automotive AB will buy the ...