GM’s deadline to receive bids for Saab has been extended

Article by Christian Andrei, on August 27, 2010

General Motors Co.'s Dec. 31 deadline to receive bids for Saab has been extended. After the holiday shutdown, Saab will restart production lines in January.

GM had previously stated that it will only give itself until Dec. 31 to review bids while proceeding to wind down the company. The Saab brand has gotten the interest of several carmakers.

But there have been many reports that Dutch luxury carmaker Spyker Cars is the most likely to succeed. 

In a text message, Spyker CEO Victor Muller told reporters that GM had extended the deadline for a final offer from Spyker until Jan. 7. He confirmed that there are numerous bidders for Saab but he declined to elaborate on their identities.

Saab spokesman Eric Geers said that in the meantime, Saab will restart production lines again in January for its new 9-5 model and cabrio.

He explained that the orders have been received and the company has to deliver the cars as usual. Geers added that the wind-down process is ongoing but that the company is still open to other options and to bids that come in.

Although Geers only identified Spyker as one of the bidders, Merbanco Inc., a Wyoming-based group, has been named in the media to be another bidder. [via autonews]

Topics: gm, saab

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