This is a shocking piece of news. Remember Koenigsegg that was this close in buying out Saab from General Motors that a preliminary agreement was signed in June indicating that the negotiations have entered the final stages? Well, the latest update reveal that the automaker has pulled out of the deal to take over Saab. Apparently the reason behind this is the delay in completing the deal that have led to the emergence of certain risks and uncertainties.

Furthermore, General Motors revealed previously that if Saab is not sold by the end of year, it will shut it down. Koenigsegg’s head Christian von Koenigsegg said, “We regret that after six months of intense and goal-oriented work we have come to the painful and difficult conclusion that we are not going to be able to carry out the acquisition of Saab Automobile.”