Sports Car Maker Koenigsegg Ready to Take over GM's Saab

The Koenigsegg CCXR Edition

OSLO, Jun 13, 2009; Aasa Christine Stoltz writing for Reuters reported that tiny carmaker Koenigsegg is ready to take over General Motor's loss-making Saab unit, and says it has numerous good solutions to help get the company back on its feet, its major shareholder told daily Dagbladet. A source familiar with the talks told Reuters this week that General Motors is close to selling its Saab unit to Koenigsegg, and that it was backed by Norwegian investors.

"We think it is possible (to rescue Saab) and we have several good solutions to bring into Saab," Baard Eker, who holds 49 percent of Koenigsegg, told the newspaper.

"Let me make one thing clear -- we are not buying Saab only to chop it up," Eker said, referring to what he calls "poisonous comments" in Swedish media.

Eker said "reefs in the sea" may still emerge which could potentially stop the sale, but he did not reply negatively when asked about Saab's comments that a deal could be in place next week, according to the paper.

Eker confirmed several investors are willing to finance the acquisition, but declined to name them or how much money they would contribute with.

When asked what the most important thing Koenigsegg and himself could bring in as new owners, Eker said: "Culture and technology. Saab need to be more innovative."

Eker also said it was not their intention to let "many people go", but declined to be more specific.

Koenigsegg's supercars rank in Forbes magazine's list of the world's 10 most beautiful cars.

This deal would put a company that has less than 50 employees and turns out only a handful of $1 million supercars in charge of Saab, which produces that many family cars every hour.

Eediting for Reuters by Chris Pizzey