Wednesday, June 10, 2009
Three groups bid for Saab
Three groups have entered bids for Saab, General Motors' up-for-sale Swedish car brand, and a preferred bidder will be chosen by the end of this week.
Koenigsegg, the Swedish supercar maker, Renco, a private holding that bought and turned round the make of Humvee military vehicles, and a third group of investors from the US state of Wyoming have all expressed interest in Saab.
GM has invited the three groups to meet for talks this week, ahead of the planned signing of a memorandum of understanding.
GM will contribute assets and cash worth $500 million to finance Saab's spin-off as a separate company.
GM will either sell 100% of Saab or retain a minority stake worth less than 10%.
DATED: 10.06.09
FEED: AW
