14 Parties Interested in Buying SAAB image

Since SAAB Automobile declared its bankruptcy, 14 parties expressed their interest in buying the company or parts of it.

Saab Automobile, owned by Dutch company Swedish Automobile NV, filed for bankruptcy in December, nine months after halting production due to a lack of funds. Six or seven companies are interested in buying SAAB, while a group of stakeholders consider purchasing parts of the estate. SAAb’s official have invited six or seven parties on an on-line conference in which they are going to combine hundreds of binders with materials that have been scanned. The interested parties were to declare until February if a complete acquisition is possible, but unfortunately, the time frame was not followed.

“I can’t comment on who we are in discussions with, but we are conducting dialogues with four to five interested parties who we consider are seriously interested,” declared Hans Bergqvist.

Some of the interested parties are: Chinese carmaker Youngman, Indian commercial utility vehicles manufacturer Mahindra and Mahindra, Turkish private equity firm Brightwell Holdings, The German automaker BMW, and Swedish car maker Volvo Car Corp., owned by Chinese Zhejiang Geely Holdings Group Co.

Although any deal would likely take months to complete, the company can still emerge from bankruptcy if a viable proposition is accepted.

Saab Automobile, owned by Dutch company Swedish Automobile NV (SWANE.AE) filed for bankruptcy in December, nine months after halting production due to a lack of funds.