F&I Management & Training

Almost 30 potential buyers of up-for sale Saab have emerged including car manufacturers as well as investment companies from all continents, according to the Swedish vehicle manufacturer. There are as many as 27 potential buyers, according to a Saab spokesman. The parties will visit Saab's headquarters in the coming weeks to look at its business plan and new models, he said. Saab will be in consultation with parent company General Motors and Deutsche Bank AG to evaluate the buyers and narrow down the list to find the most suitable candidate, which has to be 'strong financially with a long-term focus,' said the spokesman. Chief executive officer Jan-Aake Jonsson has said the carmaker intends to focus on four new models in the next 18 months that emphasise engineering and safety and promote the company's turbo-charged engines. Saab sought protection from creditors in February after General Motors said it would sever ties with the division by the start of next year at the latest. The Swedish company aims to secure about $1 billion in financing from the European Investment Bank and GM to help it reach positive cash flow by 2011. Saab creditors agreed earlier this month to extend the company's reorganisation to May 20, giving it three months to restructure after the bankruptcy filing.

DATED: 20.04.09

FEED: AW