Koenigsegg Group AB has backed out of their deal with General Motors Co., to purchase Saab. GM has been trying to unload the Saab brand as they work on their restructuring under Chapter 11 bankruptcy protection. The company's Chief Executive, Fritz Henderson is disappointed with the decision and will begin to figure out what to do.
Penny Stock Professor, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Penny Stock Picks.
The deal fell through because of Koenigsegg's lack of arranged financing. The company lacked about $417 million to conclude the deal. GM's deal with Koenigsegg Group AB was first announced in June.
Motors Liquidation Company and its subsidiaries completed the sale of substantially all of their assets to General Motors Company on July 10, 2009. Previously, the company was primarily engaged in the design, manufacture, and marketing of cars and light trucks worldwide. It
Follow us on Twitter: http://www.twitter.com/pennystockspro
Sign up for the free Penny Stock Professor newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Us
Penny Stock Professor is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
