Koenigsegg Reportedly One of Saab Bidders

Swedish supercar manufacturer Koenigsegg is reportedly one of the last few bidders for Saab, another Swedish firm currently under administration, the counterpart of US Chapter 11 bankruptcy.

A Swedish newspaper report said, “According to sources close to GM the toughest battle is expected between US billionaire Ira Rennert and Swedish carmaker Koenigsegg.” Rennert and his Renco Group, a holding company based in New York City that invests in a variety of industries, is one of the other shortlisted bidders.

News of the Koenigsegg bid comes shortly after Saab confirmed narrowing down the list of bidders to three prime prospects.A deal to get Saab off GM’s struggling hands should be made within a few weeks. GM made it pretty clear that Saab would be let go by the end of 2009, and the sale will definitely come much earlier than that target.

It would be amazing to see what lies ahead for Saab if the Koenigsegg proves to be true and pushes through. What’s better for Saab is that this really will make an entirely Swedish entity out of the company, since Koenigsegg hails from the same land. Of course, this still depends largely on Koenigsegg’s own financial status.