GM To Sell Saab To Tiny Swedish Carmaker

Questions remain about financing of deal with Koenigsegg

STOCKHOLM - General Motors signed a deal on Tuesday to sell its Saab car business to a tiny Swedish luxury carmaker, the first in a series of big sales the U.S. group is planning as it slims down.

The agreement comes after weeks of uncertainty about the degree of support for the bid from Koenigsegg's backers, after a preliminary deal for the sale was struck in June.

Previously little known outside of luxury car circles, Koenigsegg is a tiny Swedish outfit with some 45 staff. It makes high-performance sports cars that can sell for $1 million.

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