Super car company Koenigsegg has withdrawn their offer to buy the Swedish car manufacturer Saab. With Koenigsegg’s pulling out of the deal, Saab’s future in unclear.

Although a preliminary agreement has been agreed on June, constant delays to the acquisition process pushed Christian Koenigsegg to call off the deal.

“We regret that after six months of intense and goal-oriented work, we have come to the painful and difficult conclusion that we are not going to be able to carry out the acquisition of Saab Automobile,” said the Christian von Koenigsegg, the head of the company.

He also reiterated that the timing of the acquisition has been critical for their strategy to help keep the company alive. General Motors previously stated that the Swedish automotive brand would face closing if a buyer could not be found by the end of 2009.