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’Snap news
Breaking pre-market news on Wednesday,
- Tony Hayward’s Vallares to buy Genel Energy via $2.1bn reverse takeover — statement.
- Dixons Retail says same store sales in the UK down 10 per cent; down 12 per cent excluding refitted stores — statement.
New bidders emerge for car maker Saab
Saab, the Swedish car maker put on the block by its American parent General Motors, is in talks with at least two potential buyers following the collapse of the sale to sports car maker Koenigsegg, the Telegraph reported. Beijing Automotive Industry Holdings,
Hope recedes for Saab rescue
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.
Koenigsegg abandons Saab deal
The future of Saab was in doubt on Tuesday after a consortium led by Swedish niche carmaker Koenigsegg pulled out of talks to buy General Motors’ premium car brand. Koenigsegg blamed the move on delays in closing the deal after months of negotiations with the Swedish government over financial support.
BAIC to rescue Saab takeover
China’s Beijing Automotive Industry Holding Co has plugged a funding gap that threatened to scupper General Motors’ sale of Saab with a €275m ($400m) investment and an agreement to expand the Swedish brand in China.
Koenigsegg secures Saab funds
Koenigsegg Automotive, the sportscar maker, is poised to announce additional funding behind its purchase of Saab Automobile after weeks of uncertainty over the deal. The tiny Swedish manufacturer, which makes ultra-fast,