GM to weigh options after Saab deal fails - source

24 November 2009 @ 11:24 am EDT

The board of General Motors Co will meet next Tuesday to consider the fate of Saab after a deal to sell the Swedish brand to luxury car firm Koenigsegg collapsed, a person familiar with direct knowledge of the matter said on Tuesday.


GM to weigh options after Saab deal fails - source
SAAB Managing Director Jan Ake Jonsson is pictured during the press conference at the SAAB factory in Trollhattan, February 18, 2009. General Motors Corp's European Saab brand could file for reorganization as early as this month, GM said on Tuesday, adding that it still hoped to reach an agreement with Sweden on aid for the luxury brand.
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GM has not been in active discussions with any other bidders for Saab and the decision by Koenigsegg to end the deal means that a wind-down of the Swedish brand is now likely, the person said.

(Reporting by Kevin Krolicki, editing by Gerald E. McCormick)

Copyright 2009 Thomson Reuters. All rights reserved.

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