NEW YORK (Reuters) -- Sweden's Koenigsegg and U.S.-based General Motors said on Tuesday they had inked a deal for the niche sports car maker to buy loss-making Saab Automobile.
Following are some key events in the history of GM's Saab Automobile unit:
1937: SAAB or Svenska Aeroplan Aktiebolaget founded in 1937 in Trollhattan, southwestern Sweden, to produce high-performance aircraft. It ventured into cars in 1946.
1969: Saab AB and truck manufacturer Scania-Vabis AB merge under the name Saab Scania AB.
1990: The Saab car division is restructured into an independent company, Saab Automobile AB, with headquarters in Sweden. Investor AB and General Motors own 50 percent each.
2000: GM buys the remaining 50 percent stake in Saab.
Jan. 11, 2009: GM has been in talks to sell its struggling Saab unit, GM Europe chief Carl-Peter Forster says.
Jan. 12: Sweden says it will not take a stake in Saab or plan more aid.
Feb. 17: In a restructuring plan submitted to the U.S. Treasury, GM says it will cap its financial support for Saab and aims for the brand to become independent as of Jan. 1, 2010.
Feb. 20: Saab's fight for survival is boosted as a Swedish court grants it protection from creditors while it tries to find a new partner and raise fresh funds.
-- Saab estimates it lost $340 million in 2008 and it expects a similar loss for 2009, blaming slack demand, ageing products, overcapacity and high costs.
Feb. 23: Sweden says it can guarantee a European Investment Bank loan to Saab if a new owner that can cover half the necessary financing emerges.
March 12: Saab cuts 750 jobs and says investors in both Sweden and China are eyeing the company.
May 19: Saab says it has selected three suitors for continued talks, but does not reveal who they are.
June 16: GM Europe says a preliminary deal has been reached for Koenigsegg to buy Saab.
June 17: A Swedish court approves a 75 percent writedown of Saab's more than 10 billion Swedish crowns ($1.28 billion) of debt owed mainly to GM, helping Saab move a step closer to new ownership by Koenigsegg.
June 30: Saab could increase production to meet higher demand if it secured bridge financing from the government, chief executive Jan Ake Jonsson says.
Aug. 18: Koenigsegg seals a deal with GM to buy Saab.
-- Sweden is negotiating with Koenigsegg on a possible guarantee for a loan to Saab from the European Investment Fund, a pre-condition for the deal.