General Motor’s sale of Saab seems to be hitting more and more problems as it sinks deeper. We already posted you on its pending, 90%-official sale of Hummer to Sichuan Tengzhong Heavy Industrial Machinery. This important sale awaits only Chinese government approval for the sale of its luxury offroad brand, rumored to be worth $150 million to GM. Tuesday morning, CEO Fritz Henderson announced that Koenigsegg Group AB (the investment group that owns Koenigsegg Automotive) has ended talks to buy Saab from GM. Beijing Automotive Industry Holdings, better known as BAIC, kicked investment into the deal late in the game, though Koenigsegg Group would have had 100 percent control over Saab.
And there lies the likely reason that Koenigsegg called off the negotiations. It probably had trouble raising sufficient funding to convince the government of Sweden it could sustain Saab for more than a few years. Henderson expressed his
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