Koenigsegg interested in purchasing Saab?by Andrew Ganz
Though rumors abound as to just who the three top bidders for Saab are, a report out of Sweden today suggests that supercar manufacturer Koenigsegg is a front-runner. Interested in keeping Saab as a Swedish brand, Koenigsegg has apparently lined up financing to purchase the General Motors unit.
Sweden's Dagens Industri newspaper cites undisclosed sources at GM who say that Koenigsegg and American financier Ira Rennert's Renco Group are the leading bidders for Saab, though Italian automaker Fiat's bid is also under consideration.
Fiat is the only confirmed bidder thanks to ebullient CEO Sergio Marchionne's public expression of interest in acquiring as much of GM as possible.
The newspaper says that Koenigsegg has lined up a group of "very wealthy people" to help finance the purchase. Koenigsegg is part-owned by the Koenigsegg family.
Other potential bidders
Early reports indicated interest from China's Geely Automobile Holdings, but few reports have surfaced indicating any further interest from the Chinese - especially after GM CEO Fritz Henderson indicated his disinterest in selling Saab to China. There has also been no news of the unnamed German commercial bank that was said to be interested in Saab.
Earlier this morning, a Vanersborg, Sweden, court granted Saab a three month extension from creditors to restructure its operations. Saab had initially been given three months to reorganize beginning in February, but as it has not yet found a buyer, the brand was granted the extension. Saab says it hopes to have a buyer squared away by early summer.
Saab officials have called the reorganization "the most comprehensive" ever done by the courts in Sweden.