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Investor sells 22 pct stake in Koenigsegg -paper
August 11, 2009 / 7:17 AM / 8 years ago

Investor sells 22 pct stake in Koenigsegg -paper

STOCKHOLM, Aug 11 (Reuters) - North American investor Mark Bishop has sold his 22 percent stake in Koenigsegg, the luxury car maker which plans to buy GM’s Saab Automobile, Swedish business daily Dagens Industri reported on Tuesday.

“A new owner has taken over his shares and the negotiations between General Motors and Koenigsegg Group continue according to plan,” a source was quoted by the newspaper as saying.

Bishop had the second-largest stake in the company that has inked a preliminary deal to buy Saab.

Saab and GM and Koenigsegg plan to meet this week with the government about a state guarantee for a 4.3 billion Swedish crown ($593 million) loan from the European Investment Bank which would form part of the financing for the acquisition.

“Saab’s management is very positive that, together with the Koenigsegg Group, they will be able to present adequate collateral to get this loan,” the source said.

Saab is currently under creditor protection.

The EIB is seen deciding on a possible loan to Saab by end-September. (Editing by Dan Lalor) ($1 = 7.248 Swedish crowns)

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