Koenigsegg Pulls Out Of Saab Buyout

General Motors Company (GM) has hit another roadblock in its restructuring efforts after Koenigsegg Automotive, a Swedish boutique sports carmaker and potential owner of Saab, pulled out of its buyout of GM's Swedish subsidiary citing delays in closing the deal. Having faced a similar U-turn from Saturn's potential owner Penske Automotive only in October, the announcement leaves GM with two brands that it will be looking to phase out before it can focus on its four core brands - GMC, Buick, Cadillac and Chevrolet - and begin restructuring its European subsidiary Opel.

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