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Posts By: John A Cameron-Charles
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John A Cameron-Charles on September 26, 2009
The owners of Koenigsegg Group are devolving into internecine warfare, even (especially?) as they attempt to buy Saab Automobile from General Motors. Swedish business daily Dagens Industri reports that the chaotic disputes between the principal shareholders threatens to torpedo the entire buying process. Norwegian businessman Bård Eker, who owns nearly 25 percent of the Koenigsegg Group, says if the disputes aren’t sorted out by Wednesday, September 30, he’s out. For good. Färdig. And who do we blame for this last minute brinksmanship? None other than deal-defenestrated California’s sub-prime tycoon, Mark Bishop.
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To many peoples’ surprise, SAAB was amongst the brands that made the cut when federal bankruptcy judge Robert Gerber cleaved GM in two. Saab was owned by GM Canada. It’s now part of New GM—which is busy negotiating with The Koenigsegg Group to offload the Swedish automaker. Very little has come out of the recent negotiations re: the sale and/or the European Investment Bank (EIB) loan that Saab, GM and Koeningsegg view as a prerequisite for the deal to go down. Meanwhile, last week, SAAB CEO Jan Åke Jonsson declared “we need a cash infusion so we can boost production.” Förlåt?
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