GM Near Saab Deal

By: Associated Press
By: Associated Press

A person briefed on the negotiations says General Motors Corp. is nearing a deal to sell its Saab unit, but nothing has been finalized.

The news comes as Swedish broadcaster SVT reported Thursday that Swedish luxury sports car maker Koenigsegg Automotive AB and Norwegian investors are planning to buy Saab.

The person would not identify the final bidders for Saab but said news could come soon, perhaps as early as Friday. The person spoke on condition of anonymity because the negotiations are private.

Citing unnamed sources, SVT says Koenigsegg and the unidentified investors have signed a declaration of intent to buy Saab.

Saab went into creditor protection Feb. 20 in an effort by GM to spin off or sell the unit.


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