In a weird twist of fate, suppose that Koenigsegg completes the purchase of Saab from General Motors, Volvo will also become a small stakeholder in its native rival. Koenigsegg, which has reportedly signed a letter of intent with GM to acquire Saab, gave Volvo 3,750 shares back in 2000 to pay for the use of its wind tunnel.
Volvo’s stake in the exotic carmaker is very small, worth only about 8,000 Swedish kronor (€760 or $1,022 USD according to current barter rates). Nevertheless, Volvo is on the books as sub-division owner of Koenigsegg, and if the opportunity to sell of Saab goes through, it will become a stakeholder by the agency of association – except it divests itself of its Koenigsegg stock.
All of this must mean very little to Volvo, as a spokesperson for the company was completely unaware of his employer’s holdings in Koenigsegg when asked about it by the Swedish business daily Dagens Industri.
[Source: SwedishWire.com]
Source: feeds.autoblog.com
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