May 28, 2009 / 10:04 PM / 8 years ago

Koenigsegg one of suitors for GM's Saab: report

STOCKHOLM (Reuters) - Swedish luxury automaker Koenigsegg is among the remaining suitors of General Motors' (GM.N) loss-making unit Saab Automobile, a Swedish business daily reported on Thursday, citing undisclosed sources.

The other front-runner for Saab, which was granted protection from creditors earlier this year, is U.S. financier Ira Rennert and his Renco Group, Dagens Industri reported on its website.

The third remaining suitor is Italian carmaker Fiat FIA.MI, which is also in the running to take over another of GM's European units, Germany's Opel, the paper added.

Saab has said it has narrowed down a list of suitors to three and hopes to have a deal concluded in the coming weeks after its U.S. parent, which is facing bankruptcy, said earlier this year it would cut loose the brand by year-end.

"According to sources close to GM the toughest battle is expected between U.S. billionaire Ira Rennert and Swedish carmaker Koenigsegg," Dagens Industri said.

The newspaper also reported that Koenigsegg, which is part-owned by the Koenigsegg family, was lining up financing for the purchase among a group of "very wealthy people."

The paper said the Swedish luxury carmaker's chief executive, Christian von Koenigsegg, had declined to confirm or deny the report. Saab is seen being granted an extension of its protection from creditors by a local Swedish court on Friday.

Editing by Steve Orlofsky

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