BMW is Interested in Buying Saab image

The German automaker BMW, who has signed an engine purchasing agreement with Saab in late 2010, is now interested in buying the entire Swedish company and continue to build new models.

Although Saab has spent the last months trying to rescue the brand, it ultimately had to face the inevitable and consider that filing bankruptcy is in the best interests for its creditors. This means that Saab’s 3,600 employees will face a bleak immediate future.

“After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded,” declared Saab’s Dutch owner.

Besides BMW, there are also six or seven serious bidders, such as Youngman, Mahindra & Mahindra and Turkish private-equity firm Brightwell Holdings, that are interested in buying part or all the company. The Scandinavian automaker has filed for bankruptcy in a Swedish court, is not interested in the company that offers more, but the one whose proposal has the best benefits for creditors, employees and the region.

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

  • rklimasewski

    Yes, with BMW, there are no start-up advertising that needs to be done, for very little money for BMW to spend to buy SAAB it would be great! A good idea to sell both brands at all dealers too!

  • Duane Evans

    One word will do, "Awesome" as an old Saab fan going back to the late 60's I love this idea, it is very "WIN-WIN", why corrupt a great brand by going away from Europe and bastardizing it on another continent. Saab has a loyal base in the northern hemisphere,
    USA, Canada, UK, Scandanavia, North Sea countries and it could gain Russia with ease,
    wintery countries have always loved Saabs and they were techie pioneers not merely querky, they also had rally and race credentials in their past and brand pride.

  • Tom Myers

    Saabs are fantastic automobiles and very underrated. We have a 2010 & 2011 93 xwd in our household, and could not be happier with them. We have had no problems whatsoever with the cars. I hope BMW buys them. Wonderful idea.