“We regret that after six months of intense and goal-oriented work we have come to the painful and difficult conclusion that we are not going to be able to carry out the acquisition of Saab Automobile.”
The statement above from Christian von Koenigsegg sounds the death knell for his company’s purchase of Saab from General Motors.
Koenigsegg cited delays in the deal being completed, and uncertainties with the final agreement, as their reasons for with-drawl from negotiations.
GM has said that any failure to sell the business could result in the company being shut down at the end of 2009.
A possible survival route would be for Saab to be purchased by a Chinese car manufacturer, several are said to be interested in European brands.
However this is likely to see the name and manufacturing lines being exported to China for production, a la MG Rover.