http://met-tech.com/power-industry-failure-analysis.html
“We are happy to be going back to aSwedisgh company,” said Robert Georgiev, sales managerd at in Kenmore. Sweden’s Koenigsegg, the maker of luxur sportscars, has agreed to buy Saab from bankrupt The announced Tuesday, is expected to close by the end of the thir quarter of 2009 and includes an expectedf $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedis h government. Additional support is to be providecd by GM and tofund Saab’es operations and product program according to statements from the companies. GM said on June 12 that it wantds its200 U.S. Saab dealerzs to sign a proposed agreement by Fridahy to prepare forthe sale.
Georgiev said the Kenmor e dealership has not yet received the agreement but intendes to sign it whenit arrives. The agreement will allos two possibilities: For a dealer to continuse selling Saabs under thenew owner, or, if GM can’t close a deal on Saab, for an orderly wind down with GM offeriny dealers a payout. Checkpoint and Cappellino’s Towne Pontiac, GMC, Hummer, Saab in Clarence are the only Saab franchisecd dealers in theBuffalo area. Like its U.S. Saab has been in bankruptcy It becamea wholly-owned subsidiar of GM in 2000.
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