Rumored Saab Buyer Wants To Form New Company

Swedish luxury car maker Koenigsegg Automotive AB has applied to start a new company, fueling speculation that it is close to a takeover of GM’s Saab unit.

STOCKHOLM (AP) -- Documents made public on Monday showed Swedish luxury car maker Koenigsegg Automotive AB has applied to start a new company named Koenigsegg Group, fueling speculation that it is close to a takeover of Saab, the General Motors Corp. unit.

In an application to the Swedish Companies Registration Office, Koenigsegg lists shareholders in the new company as itself, its owner Christian von Koeningsegg's company Alpraaz AB, Norwegian investment company Eker Group, as well as San Diego-based Mark Bishop.

Koeningsegg would own 23.4 percent of the shares in the company, Alpraaz 42.6 percent, Eker Group 11.8 and Mark Bishop 22.2 percent.

The application, which was filed on May 29, said board members of the company would be Naples, Florida-based Augie K. Fabela II, the co-founder and former chairman of Russian telecoms operator VimpelCom, Christian von Koeningsegg and Eker Group owner Baard Eker. Washington, D.C.-based Melissa Schwartz was named deputy board member.

"The object of the Company shall be to, either directly or indirectly through the Company and its subsidiaries, engage in the production and sale of passenger cars and thereto related products and services," Koeningsegg wrote in the application.

According to reports Thursday by Swedish television, Koeningsegg is the last remaining bidder in the process to buy Saab.

Saab spokeswoman Gunilla Gustavs said a deal with a new owner would be announced shortly, but declined to elaborate.

Saab went into creditor protection Feb. 20 in an effort by GM to spin off or sell the unit. Detroit-based GM filed for bankruptcy protection June 1 and has said it plans to shed its Saturn, Hummer, Pontiac and Saab brands to focus on four core brands: Chevrolet, Cadillac, Buick and GMC.

Associated Press Writer Tom Krisher in Detroit contributed to this report.

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