#koenigsegg

Saab has not had an easy path to salvation. The Koenigsegg Group has had to provide finances, agree to a price and conditions with GM, get loan from European Investment Bank (EIB),and coax the Swedish Government into guaranteeing loans. Now there’s one more hurdle left, and it’s the same challenge that scuppered the Opel to Magna deal: The EU.
Reports of recent weeks in the Scandinavian media have told us that the EU is thinking the Saab deal over. And when mighty EU thinks, things take time… So, what are they thinking about? They have to decide whether Swedish Govt’s guarantees to SAAB’s loan in the European Investment Bank should be considered subsidies or not. EU countries are not allowed to subsidize unprofitable companies – and the EU has some questions on SAAB’s and Koenigsegg Groups financial plan, and Saab’s results prior to the reconstruction. So the whole thing might stretch into next year until – or if at all – the deal is closed. Incidentally, questions about the anti-competitive nature of the German government’s support of the Opel to Magna deal killed that sale already. But does GM want Saab back as badly?