GM to shutter Saab if no buyer is found by end of December

December 2, 2009 · Posted in Commentary

General Motors, having recently emerged from bankruptcy and reeling from the collapse of the Koenigsegg Group AB deal to buy Saab, its Swedish auto division, has drawn a line in the sand. In its announcement, GM stated if they did not have a suitable buyer for Saab by year end, they would “begin an orderly wind down of the global Saab business at that time.” Due to nondisclosure agreements, GM is not discussing any ongoing negotiations.