Saab's future is still very much in doubt.
The Board of Directors at General Motors Company today decided to defer the closing Saab until it had time to review new potential buyers who have expressed interest after the sale of Saab to Koenigsegg Group AB collapsed last week because of an apparent lack of financing.
In a statement, which was eclipsed by the resignation of CEO Fritz Henderson, GM said, “The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time.”
Citing non-disclosure agreements, GM would not confirm or comment on any potential transactions or other matters unless, and until, GM determines that disclosure is appropriate.
General Motors had signed a memorandum of understanding last August to sell Saab Automobile AB to Koenigsegg, but without all of the needed financing in place. The Swedish government then refused to lend money to Koenigsegg.
At the time, Koenigsegg said it needed another $425 million to make the proposed business plan work. The business plan developed by Koenigsegg was never revealed, but it was critical for the deal to move forward.