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

Article by Christian A., 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

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Cadillac’s CT6 full-size prestige-luxury sedan is still somewhat new. It has been offered to the global auto market for two model years – 2016 and 2017. But for those who...
by - February 19, 2017
In many industries, it is the rivalries that make things exciting. In basketball for example, there is the well-known rivalry between the Los Angeles Lakers against the Boston Celtics. For...
by - February 19, 2017
Now on sale in several major markets around the world including Europe, the BMW 5 Series (G30) heralds the arrival of the new seventh generation and represents a whole new...
by - February 19, 2017
Just recently, it was speculated that a new Porsche Cayman GT4 RS is coming. There is no official confirmation yet from the German sports car maker, but the arrival of...
by - February 18, 2017
Will there be a BMW M4 CS? Apparently, there is a Club Sport version of the BMWM4 after it was sighted in California doing a shoot for a new commercial...
by - February 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries