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Six serious bidders vying over Saab
04/17/2009, 10:23 AMBy Andrew Ganz
A Saab official has cleared up yesterday’s news that the Swedish automaker was being courted by nearly 30 individual parties. The automaker is apparently in serious negotiations with half a dozen potential parties interested in purchasing General Motors’ Swedish unit, a source close to the discussions said, but it has received credible interest from up to 27 potential investors.
The source, speaking to Bloomberg on conditions of anonymity, didn’t identify the half dozen parties’ names, but did say that they include an individual investor, a consortium of Sweden-based companies and at least two private equity firms, among others. None of the interested bidders are automakers, according to the source, which hardly comes as a surprise given the tough cash situations most automakers have found themselves in thanks to the market’s sales free-fall.
Saab spokesman Eric Greers did confirm that there are as many as 27 buyers who have expressed potential interest in the brand and that figure does include automakers and investment groups from North America, Europe and Asia. Some of those parties will visit Saab’s Trollhattan, Sweden, headquarters to view its operations before initiating further talks.
Saab’s CEO, Jan-Aake Jonsson, said that the automaker needs to make about 130,000 cars annually to break even. It produced 93,000 last year and expects 2009 and 2010 to be slower
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Six serious bidders vying over Saab
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