Swedish Buyer Drops Deal to Buy Saab |
New York Times - Nov 24, 2009 |
The European operations of General Motors were thrown further into confusion Tuesday when the automaker said the sale of its Saab Automobile subsidiary in Sweden had fallen through.
The expected buyer, Koenigsegg Automotive, backed out of the deal, G.M. said.
The American automaker, which is also struggling to restructure its Adam Opel unit in Europe, is “obviously very disappointed with the decision,” the chief executive of G.M., Fritz Henderson, said in a statement.
“Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week,” Mr. Henderson said.
Read Full Article from New York Times
- Posted: 2009-11-24 11:17:53
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