Bids placed for Saab
A group of Chinese and Japanese investors have submitted an offer to take over bankrupt Swedish carmaker Saab, a spokesman said Thursday. “We submitted a definitive offer on April 7” before the deadline for bids expired, said Mikaael Oestlund of the National Electric Vehicle Sweden AB (NEVS).
NEVS, a Swedish-registered company founded by a Hong Kong-based company specialised in alternative energy and a Japanese investment fund, declined to disclose the amount of the offer.
The court-appointed administrators for Saab, which filed for bankruptcy in December, refused to confirm an offer had been made or when they might announce a possible candidate to rescue the iconic Swedish brand. According to Swedish media they could make an announcement as soon as the end of the month. Chinese carmaker Youngman is also known to be interested in buying Saab.
Swedish media have reported that Youngman placed a preliminary bid in late January or early February of about two billion kronor (220 million euros, $280 million).
Youngman has long been interested in Saab and tried to snap it up before it declared bankruptcy but those efforts were thwarted by the Saab’s former owner, General Motors, which balked at transferring the necessary technology licences.
Reports have also surfaced that Indian commercial utility vehicles manufacturer Mahindra & Mahindra has placed a bid as well.
Category: Automobiles, Science & Tech
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