Koenigsegg Group Hope For Completion in November

Posted on 22. Oct, 2009 by Ryan in 2000-2009

The Koenigsegg Group that is in the process of buying Saab from GM, hopes for this process to be wrapped up in November according to TTELA.

It looks like they will be waiting for the EU Commission as well as the Swedish Government, then the Koenigsegg Group & BAIC need to complete their deal, and then finally the sales process should be complete.

Koenigsegg hope for completion in November

Gothenburg CEO for Koenigsegg Group, Christian von Koenigsegg, was working at Saab’s office in Gothenburg where he was told about the EIB loan.

- It is an important milestone we have passed today, but many important milestones remain, and says he is well aware that the money not yet secured.

The money needs to fall into Saab’s account before the year end according to Koenigsegg.

- Timing is critical. There should be no more delays,” he says.

In addition to the news from the Debt Office and ultimately the government on state guarantees and the approval of the commission must Koenigsegg Group have clear agreement with the Chinese Beijing Auto, BAIC.

Negotiations with the former owner GM of Rights regarded as the most formal.

- We have found a way to break down. It is well emerged because we have negotiated a long time,” said Christian von Koenigsegg.

The new business plan will Saab be profitable at 100 000 cars sold. In addition, the company intends to cooperate with many different partners in the industry to be cost effective.

- We have a realistic view of where Saab is and how it should move forward,” said Christian von Koenigsegg to explain that the bank believes in the business plan.

To cope with that drive Saab to the company in 2012 is expected to be profitable on its own merits requires about 11 billion according to Koenigsegg. BAIC will contribute around three billion of the company becomes a minority owner of the Koenigsegg Group. But Beijing Auto’s interest based on that Saab may loan.

- All parties need to have everyone on board. I see before me that all processes will be completed on the same day, or almost. Probably in early November,” said Christian von Koenigsegg.

He does not want to go into the details of how the negotiations with BAIC go or if the Chinese company will be taking over the tools of the old 9-5. BAIC is interested in Saab’s technology.

An additional sponsor is not seeking Koenigsegg Group, owned by companies controlled by American businessman Augie K Fabel, Norwegian businessman Bard Eker and Christian von Koenigsegg.

Tags: Augie K Fabel, Automotive Component Group, bank, Bård Eker, CEO, Christian Von Koenigsegg, Debt Office, EU Commission, GM, Swedish Government, The Koenigsegg Group