Back in June the word on the street was that Koenigsegg had just about closed the deal to buy Saab. Well, that fell through according to Bloomberg, reporting:

Saab had expected the transaction with Koenigsegg Group to close by the end of this month, pumping in fresh funds to finance a ramp-up of production of older models and production of new car types.

Adding:

General Motors Co. doesn’t expect to find new bidders for Saab and may shut the bankrupt unit after Koenigsegg Group AB canceled a planned acquisition, people familiar with the matter said.

Saab’s future will be decided at a Dec. 1 GM board meeting, said the people, who asked not to be identified because the talks are private. While directors might opt to keep Saab, as they did with the Opel division this month, GM has a contingency plan that calls for winding down the brand, the people said. 

This is a sad day for Saab and their 3,000-plus employees. Sigh, so much for a more streamlined, sportier Saab brand.

(Source: Bloomberg)