Koenigsegg’s Investment Team Looses 22.2% Investor, Mark Bishop, Citing Exposure Hindering His Anonymity

Posted on 10. Aug, 2009 by Ryan in 2000-2009

Koenigsegg’s investment group that involves Mark Bishop, who held 22.2 % of the investment, is now reportedly leaving the group citing massive attention to this transaction from the media according to TTELA, the Swedish Wire & Dagens Industry and others. Not only has this attention been a mention of who he is, but apparently there have been journalists from Sweden and elsewhere visiting where he lives in San Diego and doing more investigative snooping that he has had about enough of. It has also been said that his previous track record in business lending in sub-prime mortgages was also possibly going to create problems in the long run as that has also been exposed during this process. Apparently, Mark Bishop thought that investing in an international automobile company could be completely anonymous, so clearly he underestimated what he was getting into.

This leaves a financing hole in the Koenigsegg Investment group that was exposed last month, that the Saab Automobile’s Reconstruction Team needs to fill quickly. We understand that this team has been working diligently for 12-18 hour days trying to resolve this and also wrap up the Koenigsegg-Saab sale process.

What’s so surprising in this revelation for Saab Automobile and their Koenigsegg investment team is that their appointed lawyer for reconstruction, Guy Lofalk is surprised of this recent development as of late and was apparently in the dark about it according to TTELA’s interview with him.

Here’s a writeup from the Swedish Wire.

American investor Mark Bishop is said to be leaving the Koenigsegg Group and the acquisition of General Motor’s luxury brand Saab.

Mark Bishop, called the “Saab ghost” in Swedish media because of his withdrawn manners, are said to be leaving the Koenigsegg Group and the planned purchase of General Motor’s Sweden-based car brand Saab.

The American investor holds 22.2 percent of Koenigsegg Group. But according to business daily Dagens Industri Mark Bishop has gotten “cold feet” due to massive attention the deal has brought upon and the presumptuous demand for information about his private finances.

“There are those who do not like to be seen. Apparently they think what happened so far has been too much. So it’s going to be some changes [in the Koenigsegg Group]”, Jöran Hägglund, the Ministry of Industry’s chief negotiator in the automobile industry, said to daily Göteborgs-Posten last week.

During the acquisition process, Mark Bishop has consequently refused to talk with the media. A former colleague to the San Diego-based investor said to Dagens Industri: “He is like a ghost”.

Still, Jöran Hägglund wants to make it clear that the acquisition is not likely to crack just because one investors steps down. The government has promised to clarify the situation for the public within soon – and has urged Koenigsegg to do the same.

There are many loose ends to the deal. The investors backing up Koenigsegg Group are still unknown to the public, the government is in the dark on how much the Koenigsegg Group would invest in Saab and the group has been criticized for probably not having enough capital to run a loss-making company in Saab’s size.

Saab is currently under creditor protection. The reorganisation will be allowed to continue until August 20.

According to official data Koenigsegg Group has five executives: American Augie K Fabela (Chairman), Norwegian BÃ¥rd Eker and Mark Bishop. American Melissa Schwartz is Deputy Director and Christian von Koenigsegg, who founded the sports-car maker in 1994, is President.

Tags: Augie K Fabela, Christian Von Koenigsegg, Citing Exposure Hindering, Eker Bishop, General Motorâ, Guy Lofalk, Koenigsegg Group, Koenigsegg Investment group, Mark Bishop, Melissa Schwartz