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M & M keen on buying Saab

Jade

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Mar 5, 2010
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Saab, a Swedish car maker that filed for bankruptcy on December 19, is getting a lot of keen buyers including our very own Mahindra and Mahindra. Almost 5 companies from across the globe, including the Indian firm, wants to acquire Saab. "I can't comment on who we are in discussions with, but we are conducting dialogues with four to five interested parties who we consider are seriously interested," Hans Bergqvist said.

The intent of course is to sell the whole of Saab. "That is our main tack (since) we... will get the most value," he said. Bergqvist also added that administrators may also sell part of the business bit by bit.

Chinese carmaker Youngman was very keen on the buyout. In fact, a delegation from the Chinese company will soon arrive in Sweden tomorrow for talks. Besides them, Indian CV manufacturer Mahindra and Mahindra is also interested in the buyout and the company officials are already there to pursue the deal.

Brightwell Holdings, Turkish private equity firm has also made its interest clear. The company’s board member Samier Ahmed said: "We will place a bid as soon as they (the administrators) are ready to accept bids."

Bergqvist is confident that the administrators will confirm the deal in a few weeks. "We have to (hurry) due to the economic situation we are in. To make it possible for someone to restart the activity again, we have to keep the factory in good shape, and that costs an incredible amount of money," he said.

M & M keen on buying Saab - Business Review India
 
It would be great, if this deal includes Gripen jet fighter too :D


In some ways even the Saab car technolgy could boost our Military in many ways

---------- Post added at 01:30 AM ---------- Previous post was at 01:28 AM ----------

saab+turbo.jpg



Saabs were the first cars to introduce the Turbo system and in the 80's they were really popular cars until GM took them over.
 
I

Saabs were the first cars to introduce the Turbo system and in the 80's they were really popular cars until GM took them over.
It is not entirely GM's fault - the 'spirit of the SAAB design' is for a niche segment in any case, and at the price point it was being sold at (lower end luxury sedans), people had far more 'mainstream/popular design' choices to pick from.

The SAAB vehicle brand, if returned to its traditional design vision, will remain a low volume niche seller, at least in North America.

More competitive pricing might make it a big seller in Asia and Europe again though ..
 
It is not entirely GM's fault - the 'spirit of the SAAB design' is for a niche segment in any case, and at the price point it was being sold at (lower end luxury sedans), people had far more 'mainstream/popular design' choices to pick from.


GM were trying to cut back on costs and the Saab was based on the GM Epsilon chassis which was fine but to compete with higher luxury cars like BMW, AUDI it failed and the volume of sales were hit as they tried to still promote it as a luxury rival aganist the Germans.

Still the design retains the fighter plane looks let's hope whoever buys Saab goes back to basics.
 

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