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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.

Saab bidding closed, buyer announced soon

We should know the buyer of Saab soon The Swedish press have been told that the bidding on Saab has now closed and that the successful buyer will be announced shortly. It’s amazing how much interest – and speculation - there is around the demised Saab; so much so we’ve probably reported as much on Saab after its demise as we did when it was in the throes of turmoil. Saab’s administrator, Hans Bergqvist, has revealed that the bidding process is now closed and that he will be talking to Saab stakeholders to discuss the bids and confirm which of the number of bidders is successful.

Speading plea as fines quadruple

A MOTHER whose two-year-old son was one of eight people who died in a horrific road crash has spoken of the need for motorists to "break the habit of speeding to prevent more needless deaths". Tracey Mohabir's comments came as the Government announced a four-fold increase in fines available to magistrates, meaning motorway speeders could be forced to pay up to £10,000. Mrs Mohabir's son Marcus was travelling with his father Steve and two friends, Toby and Kate Beasley, when their Land Rover was hit by a speeding BMW which crashed through the central reservation on the A23 near Pycombe, Sussex, on May 16 2004.