GM unit Saab files for bankruptcy protection

AP
GM unit Saab files for bankruptcy protection
Friday February 20, 4:15 am ET
By Karl Ritter, Associated Press Writer
GM-owned Saab to be spun off as independent company, files for protection from creditors

STOCKHOLM (AP) -- Automaker Saab filed for bankruptcy protection Friday and has applied to be spun off from its parent company General Motors, officials said.

An application to reorganize the Swedish-based unit was filed at a district court in Vanersborg, in southwestern Sweden, Saab spokeswoman Margareta Hogstrom said.

http://biz.yahoo.com/ap/090220/eu_sweden_saab.html
 
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