Economy

SAAB Buyout To Be Confirmed Next Week

The lawyer in charge of carmaker SAAB's reconstruction, Guy Lofalk, says that more information about who is to buy the Swedish-based company will be presented next week.

Reports in the Swedish media say that tiny Koenigseggs Cars from the south of Sweden is to buy SAAB thanks to backing from Norwegian investors.

Koenigsegg makes 20 top-of-the-range luxury cars annually, SAAB makes over 150 000 more modest cars a year.

Koenigsegg are refusing to comment on the deal, as are SAAB and their current owners, General Motors. But lawyer Guy Lofalk told Swedish news agency TT he will have plenty of opportunity to discuss any deal next week.