Spokesman confirms imminent sale is possible
11 June 2009

Saab could be sold before the end of this week, according to reports.

News agency Bloomberg is reporting that negotiations are entering the final stages, and that the naming of a preferred bidder is imminent.

Unconfirmed reports received by Autocar suggest the preferred deal would result in Konigsegg and the Swedish govermnent coming together to save the Trollhatten-based car maker.

Saab has been operating under protection from creditors since February.

"The discussions are continuing, there is no official date that has to be reached, and this will have to take the time it takes," Saab spokesman Gunilla Gustavs told Bloomberg. "But an announcement could come as early as this week."

Reports suggest that, as part of any sale deal, current owner GM willl provide $500 million (£302 million) in assets and cash, plus production equipment for a new Saab model, as well as the $150 million (£90 million) of cash already in Saab's account.

However, the new owner would have to pay GM back if it succeeds in turning around Saab.

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