Saab sale

Published on Saturday 28 November 2009 12:22

GENERAL Motors is talking to possible buyers of Saab, in the run up to a GM board meeting to consider whether to attempt to revive a sale process or eliminate the 60-year-old Swedish car brand.

"We can confirm that we have heard from different investors. We have a close dialogue and close contact with several who have expressed interest in buying Saab Automobile," said Saab spokeswoman Gunilla Gustavs. "It is not so surprising, given that there were 27 parties who were interested (when Saab was initially put up for sale] and ten who came and looked the company over in April and May."

Gustavs would not give any further information on the possible buyers or how many potential suitors loss-making Saab had approached since a potential sale to Sweden-based sports car builder Koenigsegg collapsed.

Koenigsegg on Tuesday pulled out of a deal it had been negotiating with GM to buy Saab, blaming the length of time it was taking to finalise the agreement and obtain European Investment Bank loans and loan guarantees.