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GM agrees to sell Saab to supercar company Koenigsegg

General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. The deal would close by the end of the third quarter and put Saab in the hands of an upstart, boutique car company known for producing eye-catching cars with gaudy horsepower ratings and even gaudier price tags. The agreement includes $600 million in financing from the European Investment Bank.

British Grand Prix (2013): RESULT

The 2013 British Grand Prix at Silverstone (pictured) saw a rash of tyre failures It’s the ‘home’ Grand Prix at Silvertsone for not just the British drivers, but a chunk of the teams that are based in the UK for their F1 operations. The front row of Mercedes’ Hamilton and Rosberg (based in Brackley) and a second row of Red Bulls (based in Milton Keynes) promised plenty of action, and that’s what we got. But much of it for the wrong reasons.

Paolo Pininfarina elected Chairman at Pininfarina SpA

Paolo Pininfarina has been unanimously elected to become Chairman of the Board of Directors at Pininfarina S.p.A., one of the roles previously occupied by his late brother Andrea Pininfarina. The Board of Directors agreed to assign authority over the Group's design operations and Pininfarina Extra to Paolo Pininfarina and also elected to hand over the Group's communications to his sister Lorenza Pininfarina, the Provisional Deputy Chairperson. There has been much speculation about the company's future following the untimely death of CEO Andrea Pininfarina in a traffic accident last week.