Entrepreneur Reassures Saab Staff

A Norwegian entrepreneur behind Swedish luxury sports carmaker Koenigsegg's reported bid to buy Saab has moved to reassure workers at the GM owned plant in Trollhättan that they wouldn't break-up the car company if they succeeded in their buy-out attempt.

"Let's make one thing absolutely clear. We are not buying Saab in order to break it up," Bård Eker told the Norwegian newspaper Dagbladet.

Eker, who part owns Koenigsegg, believes an agreement with Saab's parent company General Motors could be reached by next week.

On Friday Reuters news agency claimed that a letter of intent had been signed between the parties and said that the financing of the deal had been agreed with only a few minor details to be ironed out. Saab said on its website on Friday that new ownership would be finalised in the early summer and Sweden's public service television SVT reported that a preliminary deal was now with the U.S. Treasury Department with further information expected to be released next week.

In Washington, GM Chief Executive Fritz Henderson declined to comment on progress in the effort to find a buyer for Saab.

"Any material transaction we're involved in ... we would review what's gong on," Henderson told reporters. "We don't have anything to add."

Koeningsegg is a small luxury sports carmaker , with 45 employees, based in an aircraft hanger in southern Sweden and was founded by young frozen chicken entrepreneur Christian Von Koenigsegg. The company cars can sell for as much as one million dollars.