GM close to finalizing Saab sale

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As part of GM’s restructering process in the quest to become a more leaner and profitable organisation, it has been selling some of its less profitable brands both in the US and those it owns or co-owns around the world. This time its giving Saab the chop.

GM appears close to selling its Saab brand of cars though who is going to finally buy it is not clear. Saab has proved to be a thorn in its side, as without its sale the restructuring process will be delayed. Rumors have it that the Swedish exclusive sports-car maker Koenigsegg Automobile AB is the top bidder and it is probably a done deal between GM and Koenigsegg Automobile AB, but confirmation has still to come.

Other potential buyers are the Renco Group Inc., a private holding company, and Merbanco Inc., a Wyoming-based private investment group. By today evening it should be known who is going to buy Saab. Once GM cuts the flab, it can concentrate on Chevrolet, Cadillac, Buick and GMC. Hummer and Saturn have already found buyers.