Report: GM has to decide this week to sell or not its Saab brand
By Andrew C., 26 Aug, 2010. 0 Comments
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General Motors Co. has to decide if it will sell its Saab unit this week or else, it will be "tough to complete a deal," according to Joran Hagglund, state secretary at Sweden's Enterprise Ministry, who spoke to the daily Svenska Dagbladet. At the start of December, GM said that it would be looking at offers for Saab until the end of the month but that it will move to close the unit if no offer was viable.
Hagglund said that if Saab will be sold, GM has numerous contracts to negotiate and the European Investment Bank and the (Swedish) debt office would have to undertake a detailed economic analysis of a buyer's financial strength. GM continues to cope after a deal with Koenigsegg Group AB, a consortium of private investors that includes supercar maker Koenigsegg Automotive AB, failed to prosper. [via autonews]
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