Saab Sale Unlikely, GM Boss Says image

Today, Ed Whitacre – chief executive of General Motors said that a deal to sell Saab is unlikely to be done. He also said that, at this moment, no bidders had come forward with enough money, despite reports claiming two unknown Swedish groups have made 11th-hour bids to save it.
In consequences of that, Saab plants would begin to close this week.

However, according to BBC, Dutch sportscar maker Spyker is reported to be preparing a fresh bid for Saab before a deadline of 2200 GMT on Thursday.
Earlier this week, Spyker CEO Victor Muller was confident in an interview with AOL that his company’s final submission would meet all of GM’s requirements.

“We are very confident that our renewed offer will remove the impasse that was standing in the way of an agreement on Friday, and this would still allow us to conclude the deal prior to the expiry of the deadline originally set by GM of December 31st,” Mr Muller said in a statement.

“It’s real easy,” Ed Whitacre told Reuters. “Just show up with the money and you can have it [Saab], but nobody’s showing up with the money. I think we’ve done everything humanly possible.”

The Swedish government is set to meet GM bosses next Tuesday to discuss Saab’s future.

  • http://www.i10automall.com Beth

    I'm so sad to see Saab leave GM. Though I'm curious to see what will happen.