| A Saab by any other name may not be as popular, | | | | financing. The original agreement stipulated that |
| but luckily this luxury auto company will be keeping its | | | | Koenigsegg would receive a loan from the European |
| name and corporate identity even in the midst of its | | | | Investment Bank which would be guaranteed by the |
| buy out by another Swedish automobile company. This | | | | Swedish government. The Swedish company may still |
| auto brand is expected to return to the familiar home | | | | need this loan even with help from anonymous |
| ground of Sweden when it is bought by luxury | | | | investors and General Motors. At the last |
| European brand Koenigsegg in the very near future. | | | | announcement from the chairman of the company, |
| Koenigsegg reported this week that it is almost done | | | | Koenigsegg was over 423 million dollars short of the |
| acquiring the financing it needs to buy Saab. | | | | amount agreed upon in the purchase agreement. |
| Koenigsegg will be buying Saab from American car | | | | Despite the complications in the financing process, |
| maker General Motors, which is scaling down to focus | | | | Koenigsegg expects the deal be completely finished in |
| on core brands and eager to rid itself of the bankrupt | | | | one month. General Motors appears less optimistic, |
| European car brand. General Motors in turn will help the | | | | estimating the closing date of the sale to be closer to |
| buyer acquire financing from unnamed private | | | | the end of the year. It is hoped that Saab, which has |
| investors. This means that Koenigsegg may not need | | | | been a consistent money loser for General Motors, will |
| as much money in a loan from the Swedish | | | | be able to flourish under the new European |
| government to to complete the purchase as it had | | | | management. This agreement has meant the |
| previously been assumed. According to leaked | | | | difference between Saab filing for bankruptcy as |
| information from both companies, the purchase | | | | planned and instead introducing several new models |
| agreement is expected to be finalized in the next | | | | this year. Saab will be rolling out a new flagship car and |
| week and publicly announced soon thereafter. | | | | redesigning many of its existing models in an attempt |
| An earlier deal was reached last month, but it was | | | | to restore wavering sales and customer approval. |
| never finalized due to questions regarding the uncertain | | | | |