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Saab cuts field of buyers; sold by early summer?
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Posted by HS [Email] (more from HS) on Mon, 11 May 2009 16:57:59 Share Post by Email
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Saab narrows field to handful of buyers; hopes to be sold by early summer
05/11/2009, 10:12 AMBy Andrew Ganz
Swedish automaker Saab, up for sale by current owner General Motors, says it has narrowed the list of potential buyers to just a “few” and that it hopes to have the sale process completed by early summer. Though Saab says confidentiality agreements preclude it from mentioning names, reports from Swedish media indicate the automaker has whittled the list down to just two or three serious buyers.

That’s well down from the nearly 30 outside investors that had shown interest in the brand - and Saab says the narrowed list is a good thing as it has helped the automaker concentrate on only the most serious potential suitors.

“Those that are left are those who are extremely interested,” Saab spokesman Eric Greers told Reuters.

Last week, Fiat indicated that it was interested in acquiring Saab, as well as GM’s Opel operations, in an effort to become the world’s second largest automaker. Saab has not confirmed or denied talks with Fiat, though the automaker has apparently had conversations with the Swedish government and with GM. It is unknown if Fiat is one of the remaining bidders.

A conference call for the media hosted this morning by GM CEO Fritz Henderson yielded little insight into the negotiations.



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