Global Times - FAW to contribute financing to Saab purchase

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FAW to contribute financing to Saab purchase

Source: Global Times
[11:04 September 10 2009]
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Chinese automaker FAW is set to help finance luxury sportscar maker Koenigsegg's planned purchase of Saab Automobile GM.UL, a Swedish newspaper reported Wednesday without disclosing its sources.

FAW would provide the last part of the financing needed for the deal, daily Dagens Nyheter said. It did not say how much FAW would contribute.

GM signed a deal last month to sell its Saab car business to Koenigsegg, but questions remained regarding financing.

A source with knowledge of the situation told Reuters this week that another General Motors China partner, China's largest automaker SAIC Motor group, might take a passive stake in the Swedish carmaker.

(Reuters)