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Business Briefing / Automotive

China carmaker joins Saab bid

September 10, 2009|Times Wire Reports

Beijing Automotive Industry Holdings Co., China's fastest-growing carmaker, has joined Koenigsegg Group's offer to buy Saab Automobile from General Motors Co. in an effort to propel sales and model development.

Beijing Automotive said that it would take a minority stake in the team bidding for Trollhattan, Sweden-based Saab and help the unprofitable GM division find opportunities to expand in China.

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