Sources Say GM Closes Deal For Saab Sale With Car Maker Koenigsegg

STOCKHOLM, Aug 17, 2009; Reuters reported that Sweden's Koenigsegg has closed its purchase of money-losing Saab Automobile from General Motors Co [GM.UL], but financing arrangements have yet to be finalised, a Swedish daily said on its website on Monday.

Dagens Nyheter, citing sources, said GM and Koenigsegg had agreed on a "very low" price for Saab, but the deal required the Swedish government to guarantee a loan by Saab from the European Investment Bank.

Spokespeople for GM Europe and Saab declined to comment and Koenigsegg was not immediately available for comment.

GM Europe announced in mid-June it had struck a deal to sell Saab to Koenigsegg and the sale was to close by the end of the third quarter. [ID:nLG827751]

"The price tag is non-existent but GM has a deal that grants them revenues as well if Koenigsegg manages to get Saab back on its feet," Dagens Nyheter quoted a source close to Saab as saying.

The European Investment bank is expected to process Saab's loan application by end-September.

Sweden said on Aug 7 it had received information on a possible pullout of investors backing the deal. But there has been no further statement by the government on the issue since then.

Writing for Reuters by Anna Ringstrom; Editing by Richard Chang