Ira Rennert
GM Green-Lights Koenigsegg to Buy Saab
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General Motors has made the surprising decision to sell its Saab brand to Swedish supercar maker Koenigsegg. The move comes as such a shock because the two other final bidders were wealthy and mainstream American entities: the Wyoming investment group Merbanco and U.S. billionaire Ira Rennert’s Renco Group. Koenigsegg, on the other hand, is a…
GM Says It Has 16 Different Buyers For Saturn, Three for Saab
With news of a tentative deal to sell off Hummer coming yesterday, GM still hasn’t made any decisions about its Saturn or Saab brands – but apparently it has plenty of offers to entertain. GM CFO Ray Young said that Saturn has as many as 16 suitors, while the Swedish Saab brand has three. The…
