Business
7:25 am
Fri June 12, 2009

Saab says negotations 'on track' to find new owner

STOCKHOLM – General Motors' Saab unit says a deal to find a new owner was "just around the corner" but added nothing has been finalized and didn't name any potential buyers.

In a statement on its Web site today, the Swedish unit said it was moving closer to a deal to secure the future of the ailing brand.

A person briefed on the talks would not identify the final bidders for Saab but said yesterday news could come "shortly" -- perhaps as early as today.

Citing unnamed sources, Swedish broadcaster SVT said luxury sports car maker Koenigsegg Automotive and Norwegian investors have signed a declaration of intent to buy Saab.

Detroit-based GM filed for bankruptcy protection June 1 and has said it plans to shed its Saturn, Hummer, Pontiac and Saab brands.