The on-off Saab affair continues… last-minute bids save Saab

Saab Affairs


GM extend the deadline of stricken Swedish car company to save it through give a chance  to more buyers even after announcing exact date that it was over on December 18, 2009 before Christmas. Then Bernie Ecclestone has announced that he is making a bid along with partner Genii Capital, a Luxembourg-based private fair play firm. Ecclestone told to Bloomberg that this brand was deserted because of its present owners and they are just thinking over it.

Genii Capital, recently investor of the Renault F1 team, wants to awake its concern in the automotive industry. It told Bloomberg, ‘GM has decided that given an adequate and short time frame for finalizing its offer, it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company.’
Spyker’s chief executive, Victor Muller, announced that they believe the Saab brand has lots of potential and would be keen to close a deal as quickly as possible.GM has decided to restart Saab production on January 11, after Christmas.
GM doesn’t want to see closes Saab, its chief executive Ed Whitacre told reporters that buying Saab would be simple if you have money.

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