Zurich, Switzerland – General Motors has signed a stock purchase agreement, selling 100 per cent of Saab Automobile AB to Koenigsegg Group AB. The deal is expected to conclude in the next month, and Saab Automobile plans to exit legal reorganization shortly.
The agreement is subject to agreed closing conditions, including expected funding commitments from the Swedish government, and transitional assistance from GM as the brand becomes independent. Saab is about to launch several new cars, developed with General Motors, that are in the final stages of development.
As part of the proposed transaction, GM and Saab will continue to share technology and services during a defined time period, managed through licenses and service agreements.
“We have now concluded another important step in realizing the great potential of Saab,” said Christian von Koenigsegg, CEO of Koenigsegg Group. “Our plan is to transform Saab into a stand-alone vibrant entrepreneurial company and make it sustainable by making it profitable. We will revive Saab’s Swedish heritage of ecological sensitivity, safety, design innovation and fun-to-drive experience.”