According to reports out of Sweden, Mark Bishop, an American investor who owned 22 percent of Swedish sports car manufacturer Koenigsegg , has sold off his share in the company – but a new, unnamed investor has taken over the shares and negotiations to buy Saab from General Motors continue.
“A new owner has taken over his shares and the negotiations between General Motors and Koenigsegg Group continue according to plan,” a source told Sweden’s Dagens Industri today.
Bishop had owned the second largest share in Koenigsegg. According to some reports, the quiet investor was concerned about the publicity over Koenigsegg’s plan to purchase Saab from GM.
European Investment Bank meeting
Saab, GM and Koenigsegg will meet with the European Investment Bank and the Swedish government later this week to discuss a $593 million loan that would help Koenigsegg finance the acquisition.
“Saab’s management is very positive that, together with the Koenigsegg Group, they will be able to present adequate collateral to get this loan,” the source told the paper.
The EIB is expected to make a decision on the loan by the end of September, according to Reuters. Saab’s protection from creditors expires on August 20, but some sources indicate that the protection will be extended for the second time since February to cover the gap.
