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China's SAIC considering plan to buy Saab

Tue Sep 8, 2009 5:45am EDT

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SHANGHAI, Sept 8 (Reuters) - China's largest automaker SAIC Motor group (600104.SS) is considering taking a passive stake in Saab Automobile [GM.UL] by teaming with luxury sportscar maker Koenigsegg, a source familiar with the matter said on Tuesday.

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"SAIC is interested in taking a stake in Saab but has not decided on the size and investment," the source told Reuters.

Sweden's Dagens Industri business daily reported late on Monday that a Chinese car manufacturer would be going in on the Saab deal with Koenigsegg as part owner. It quoted an unnamed source as saying that the unnamed investor had helped cover what is understood to be a 3 billion Swedish crown ($420 million) gap in financing for the purchase. [ID:nL7609350]

A SAIC spokeswoman declined to comment on the speculation. (Reporting by Fang Yan and Jacqueline Wong)

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