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Saab buyer to be revealed this week


Reports have supercar company Koenigsegg as the likely buyer for Saab

Reports out of Sweden have General Motors, Swedish supercar maker Koenigsegg, and a group of Norwegian investors, agreeing to the deal in a letter of intent.

GM confirmed in its February viability plan that it would no longer supply Saab with funding and that the Swedish company would become an independent business as of 1 January 2010.

An official announcement of the sale is expected this week.

Saab confirmed that it is seeking to write-off roughly three quarters of its non-prioritized debt, aiming for positive cashflow by 2011. The Swedish government has pledged 28 million kroner in loans and loan guarantees to keep the company ticking over in the forseeable future, but the company is still predicting a loss of $300 million for the current year.

Koenigsegg, meanwhile, says it has what it takes to save Saab. Koenigsegg co-owner, Baard Eker, said over the weekend that his company has several good solutions to bring into Saab.

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