GM delays Saab decission as new companies come forward with bids

Saab‘s fate is definitely on a roller coaster these days, after GM announcing that it will close down the Swedish brand, Dutch supercar manufacturer Spyker released a last bid, many brand supporters rallied the GM headquarters in Detroit, and now the company unveiled that a final decision will be made today, after four last second offers were made.

Yesterday, GM’s CEO Ed Whitacre did declare that anyone with the money could buy Saab, and that his own company did everything it could to save it and prevent its wind down. Now, it seems that this is finally the “do or die” moment for the Swedish company.

One offer is definitely from Spyker, while another is confirmed to be Luxembourg-based investment firm Genii Capital, which recently acquired 75% of Renault’s Formula 1 team, and is believed to have ties with
Bernie Ecclestone.

If Saab will in fact be sold, we should consider it a win, but don’t forget that the company isn’t in the best financial situation, and that it will take a lot of effort to get it back on track toward a profit. Stay tuned for more details as they appear.

Source: Autocar

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Post tags : General Motors, gm, Saab