Koenigsegg gets a new part-owner

» Updated:

» Published:

Koenigsegg gets a new part-owner
Photo: Björn Ewenfeldt/TT

Share this article

The Swedish manufacturer of sports cars, Koenigsegg, is receiving an investment of approximately half a billion kronor and gets a new part-owner, the company announces in a press release.

In connection with a new issue of shares, the New York-based fund Chieftain Capital Management is investing 50 million euros in the company. The fund is thereby acquiring an ownership stake of under 10 percent in the vehicle manufacturer.

We are retaining majority ownership, says founder Christian von Koenigsegg to Dagens Industri.

Among Koenigsegg's owners was previously the electric car company Nevs, which withdrew last year after its parent company – Chinese Evergrande – collapsed.

When we bought out Nevs, we used our own money and there is a hole to fill, at the same time as we have big future plans for new exciting cars and this new issue of shares gives us more room to maneuver, says Christian von Koenigsegg to the newspaper.

Koenigsegg manufactures exclusive sports cars in Ängelholm, Skåne. The company's car models have over the years set several speed records, and have price tags of over 30 million kronor each.

Corrected: In an earlier version, the incorrect amount of the investment was stated in the second paragraph.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Stockholm Stock Exchange Opens Slightly Up Amid Fed Rate Cut Hopes

Stockholm Stock Exchange Opens Slightly Up Amid Fed Rate Cut Hopes

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Swedes Report Decreased Satisfaction with Banks This Year

Swedes Report Decreased Satisfaction with Banks This Year

Fashion Trade Sales Rise for Third Consecutive Month

Fashion Trade Sales Rise for Third Consecutive Month

Powell's Rate Signal Influences Swedish Households Too

Powell's Rate Signal Influences Swedish Households Too

Asian Markets Rise Despite Weak China Data

Asian Markets Rise Despite Weak China Data

ANZ Bank Faces Record Fines for Bond Deal Misconduct

ANZ Bank Faces Record Fines for Bond Deal Misconduct

Trump Welcomes Foreign Investment and Workforce in the USA

Trump Welcomes Foreign Investment and Workforce in the USA

Government Boosts Support for Sweden's Regional Airports

Government Boosts Support for Sweden's Regional Airports

Klarna CEO: Embracing "Swedishness" as a Key Asset

Klarna CEO: Embracing "Swedishness" as a Key Asset

Handelsbanken Swish Payment Disruption Resolved

Handelsbanken Swish Payment Disruption Resolved

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Länsförsäkringar Swish Payment Issue Resolved

Länsförsäkringar Swish Payment Issue Resolved

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

France's Credit Rating Downgraded by Fitch

France's Credit Rating Downgraded by Fitch

Microsoft Gains Amid Mixed US Market

Microsoft Gains Amid Mixed US Market

FTC Investigates Google and Amazon Over Advertising Practices

FTC Investigates Google and Amazon Over Advertising Practices