Genii Capital puts in revised bid for Saab image

F1 boss Bernie Ecclestone via Genii Capital has put in a revised offer to buy Swedish carmaker Saab from US giant General Motors.

Nick Reilly, GM’s European president, told reporters in Detroit yesterday that talks with Saab’s bidders continue even after the Swedish government approved GM’s appointed liquidator to wind down the Trollhaettan-based brand.

“Genii and Ecclestone sent its revised bid,” Lars Carlstroem, the Swedish investor working with Luxembourg-based Genii, said in a telephone interview. “This will show them that we are a financially strong group and that funding is not an issue, and that we are ready to support Saab in the long term.” He wouldn’t discuss details of the offer.

Lars Carlstrom, head of Genii Capital, said:

“It will show GM that the Ecclestone group is capable of providing financial strength to Saab during a long period of time and also show that the group has the know-how and capability, within its network, to run a company like Saab.”

“Most important is that Genii-Ecclestone would like to provide information to GM that financing is not an issue for this group.”