• Sweden edition
 
Sports car maker buys Saab: report

Sports car maker buys Saab: report

Published: 11 Jun 2009 17:15 GMT+02:00
Updated: 11 Jun 2009 17:15 GMT+02:00

Koenigsegg has signed a declaration of intent with regard to the purchase, with more detailed negotiations set to continue over the coming months.

The sports car maker, based in Ängelholm in southwest Sweden, has secured the backing of Norwegian investors, according to Rapport.

Koenigsegg has long been named as one of the parties interested in snapping up the ailing Swedish auto giant.

Earlier on Thursday, the Swedish trade ministry indicated that a sale was near when it released a statement to the effect that negotiations could now begin over state guarantees for loans to Saab. The Swedish National Debt Office (Riksgälden) is to act on behalf on the Swedish state in opening loan negotiations with Saab Automobile in order to pave the way for lending from the European Investment Bank (EIB).

"We have always said that when Saab got a new owner Riksgälden would be given the task of negotiating loan guarantees, if such are required. Following today's decision we are well prepared for that," said state secretary Jöran Hägglund in a statement.

Koenigsegg was founded in 1994 by Swede Christian von Koenigsegg, 36.

Video: Jeremy Clarkson test drives a Koenigsegg

TT/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

17:38 June 11, 2009 by Random Guy
same saab, just sounds funny when it runs.......

"is that a yo-yo in your engine?"

.
17:57 June 11, 2009 by Gower76
This is really sensational news - great for patriotic Swedes that Saab will remain ostensibly Swedish, albeit backed by Norwegian dosh.
18:08 June 11, 2009 by Beavis
Koenigsegg make class cars, but I guess they are not selling. Probably want a budget car to sell instead.Bit like Ferrari buying Lada...

One is an engineering masterpiece, the others a piece of scrap
18:14 June 11, 2009 by karex
It wasn't scrap when it was still entirely Swedish - same goes for Volvo cars...

Now it will have a fighting chance to regain Swedish quality.

Good for them!
23:41 June 11, 2009 by martell
My comment got rejected due to "profanity".

Okay.
04:58 June 12, 2009 by AWH
I have owned 2 SAAB vehicles that I loved. When I attempted to buy my third a couple of months ago the dealer here in Sydney, Australia, didn't want to know me. I bought a Honda instead. The first task the new owner has for the Australian marketplace is to shake up the dealer network and get sales moving. What was once a great and innovative vehicle is now a sad and plastic American wannabe.
08:34 June 12, 2009 by Rick Methven
I have owned 10 SAAB Cars over the past 30 years and have been happy with all of them. BUT the quality of my current 9-5 Aero is not as good as my 9000 Aero which was the last of the truely Swedish SAABs and is still going well. The GM influence with typical American cost cutting has lowered the standard to fit in with the rest of the GM crap. Now it is time to re-build the Saab image for quality and innovation. First step - get rid of the 9-3 (Opel look alike), which has really dragged the SAAB image down. With the change in ownership there is now a strong possibilty that my next car will be a SAAB
08:59 June 12, 2009 by Nemesis
This is very good news. SAAB should never have went to a quality and jobs destoyer like General Motors.

This will hopefully save jobs, keep investment in engineering in Sweden and help strengthen the European car manufacturing market.

The quality of SAAB cars has dropped while under ownership by GM. That needs to be reversed and anyone brought in by GM, should be immediately fired as they are anti quality and completely useless.

I look forward to seeing SAAB innovation and quality again.

At last, some high quality and highly innovative European manufacturing may be allowed to flourish again.
14:28 June 12, 2009 by High Priestess Kang - Slut
Thank goodness!!!
16:21 June 12, 2009 by Mzungu
Shame that, VEB Sachsenring Automobilwerke Zwickau didn't buy SAAB,pehaps we would then had a car to be proud of...lol.

*time for a beer,bye!*
16:52 June 12, 2009 by jack sprat
A bigger more experienced company would probably be a better bet.

Theres a big question mark over wether a small co.producing a handful of specialised cars which have produced mixed feedback,can design and mass produce a quality popular car at a competitive price and operate efficiently on a large scale to World-wide markets
17:16 June 12, 2009 by Bender B Rodriquez
I don't know about that, but I think Saab needs a visionary leader and not just another giant car manufacturer. Sabb should not compete by massproducing boring mainstream cars; they should be the Google, Skype and Spotify of cars...
17:32 June 12, 2009 by jack sprat
After the drop in quality,reliability and confidence under General Motors,...designing,producing and marketing new up-market models will be no easy task.

There can be no short term quick fix.

Just hope the finance,determination and know how are there to see it through long term.
17:59 June 12, 2009 by High Priestess Kang - Slut
Agreed.

I think GM's total failure with SAAB lies in the fact that GM tried to market the product as a mass, rather than the niche product it is.
Today's headlines
Boy receives cancer vaccine by mistake
Photo: Hasse Holmberg/TT

Boy receives cancer vaccine by mistake

A boy scheduled to be vaccinated against mumps, measles, and rubella instead received a vaccine against cervical cancer. His family has now reported the blunder for inspection. READ  

Sweden grants additional funds to jobs agency
Photo: Bertil Enevåg Ericson/TT

Sweden grants additional funds to jobs agency

The Swedish government has announced that it will increase funding to the jobs agency (Arbetsförmedlingen) in 2015, primarily to cover personnel costs but also to prevent long-term unemployment. READ  

Police 'powerless' against street racers
Police on E4 highway. Photo: Johan Nilsson/TT

Police 'powerless' against street racers

Stockholm police said they were powerless to react when streetracers took over at "insane speeds" on a large highway on Friday night. READ  

Saab carmaker wins receivership
Photo: Björn Larsson Rosvall/TT

Saab carmaker wins receivership

After initial rejection, a Chinese-owned company set up to take over Saab's assets after the troubled Swedish carmaker's bankruptcy said on Friday it had succeeded in being placed in receivership. READ  

Woman suffers cardiac arrest while giving birth
Photo: Tomas Oneborg/TT

Woman suffers cardiac arrest while giving birth

A 30-year-old woman went into cardiac arrest while giving birth at a Stockholm clinic - without hospital staff noticing that anything was wrong. She remains in a critical condition on Friday. READ  

Champions League
History repeats for Malmö fifty years later
Striker Magnus Eriksson during Malmö's 3-0 win over Salzburg in a Champions League qualifier. Photo: Björn Lindgren/TT

History repeats for Malmö fifty years later

Malmö's entry into the Champions League serves as a reminder of times gone by in European football. With Spain's champions bound for Sweden things just couldn't be better, writes contributor Lee Roden. READ  

Elections 2014
Löfven promises jobs to 50,000 young Swedes
Social Democrat leader Stefan Löfven. Photo: Fredrik Sandberg/TT

Löfven promises jobs to 50,000 young Swedes

Social Democrat party leader Stefan Löfven announced on Friday his "most important election promise", a 90-day job guarantee programme for young Swedes. READ  

 Sweden to buy fighter jets despite Swiss pullout
The Jas Gripen fighter aircraft. File photo: Wikimedia

Sweden to buy fighter jets despite Swiss pullout

Sweden said Friday it would go ahead with the purchase of a new generation of Saab Gripen fighter jets, despite Switzerland pulling out of a major co-financing deal. READ  

Three hurt after northern knife attack

Three hurt after northern knife attack

Three people are in hospital after they were stabbed during what police suspect was a gang-related attack in Umeå. READ  

Stockholm 'thief' turns out to be trainee ninja

Stockholm 'thief' turns out to be trainee ninja

Stockholm police rushed to the scene when a worried Swede reported that their neighbours were the victim of a break-in - but when officers arrived, they found nothing but a ninja in the middle of practice. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
People-watching August 27
Gallery
Top ten false friends in Swedish
National
Roma advocate scoops Wallenberg prize
Society
Meet the man who made a Swedish store recall its high heels for kids
Business & Money
'How I came to run my own business in Sweden'
Blog updates

25 August

Hit och dit, här och där (The Swedish Teacher) »

" Hej igen! A common challenge for Swedish language students are the location adverbs hit/här, dit/där, hem/hemma etc. Some of the location adverbs come in two versions. We should use one type of location adverb when we use a verb describes where we are, and we should use the other type of location adverb when we the verb..." READ »

 

25 August

The Dollar Store (Blogweiser) »

"A dollar store in Sweden. Blog post: http://t.co/tNuuvcP1q0 #USD #greenbacks #sweden #sverige pic.twitter.com/RHFAYf7U1k — Joel Sherwood (@joeldsherwood) August 23, 2014 There’s a chain here in Sweden called The DollarStore. This name always stood out to me in a country where they don’t use dollars. I went there for the first time this weekend. They actually accepted greenbacks..." READ »

 
 
 
Politics
Expert explains why Sweden's election oozes uncertainty
National
City plays Schindler's List theme at Nazi rally
Society
For Stockholm Fashion Week, here's the A-Z of Swedish fashion
National
'Amnesiac' man avoids deportation for ten years
Gallery
Princess Estelle through the years
Business & Money
Swedish city all set for six-hour workday trial
Business & Money
Five golden rules for the Swedish job hunt
Sponsored Article
Graduates: Insure your income in Sweden with AEA
Gallery
People-watching August 22-24
National
Armed royal guards caught (very) drunk on the job
National
Sweden orders textbook on Roma discrimination
Gallery
Violent anti-Nazi demonstrations in Malmö
Society
A closer look at Sweden's five official minority languages
Gallery
See the destruction from the southern Sweden floods
Politics
'Sweden Democrats hold the key to elections'
Society
Swedes celebrate first day of smelly fish season
Politics
Sweden elections: How do they work?
Finest.se
Gallery
People-watching August 20th
Society
Did you know the Bronx in NYC was named after a Swede?
Sponsored Article
Find out what gives this Swedish school executive appeal
Sponsored Article
Introducing...Your finances in Stockholm
Sponsored Article
Introducing...Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

743
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se