Koenigsegg CEO says a deal is likely to be completed by the end of October
28 September 2009

Koenigsegg still hopes to complete its takeover of Saab from General Motors by the end of October, according to its CEO.

Christian von Koenigsegg said there had been great progress in securing Swedish state guarantees for loans from the European Investment Bank (EIB).

"Our deadline for the deal still remains the end of October as we have previously said,” said Koenigsegg.

His comments follow those of Norwegian businessman Bard Eker, who owns part of Koenigsegg through his holding company.

He told a Swedish magazine that the deal would fall through if the EIB loans hadn’t been secured by Wednesday.

“If everything is not in place before Wednesday we are out,” said Eker. “We give up.”

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