Sweden’s government has admitted that time is running out to save Saab Automobile from liquidation after niche carmaker Koenigsegg abandoned a provisional deal to buy the loss-making company on Tuesday. While General Motors could still find a buyer for Saab, company insiders said the likeliest scenario now was that the 60-year-old carmaker would be wound up. GM’s board is due to discuss scenarios, alongside other issues facing the US government-controlled carmaker, at a meeting on Tuesday.

This entry was posted by Gwen Robinson on Thursday, November 26th, 2009 at 4:55 and is filed under Capital markets, M&A. Tagged with gm, Koenigsegg, Saab. Edit this entry.