Saab bids are currently evaluated by bankruptcy administrators

Article by Christian Andrei, on April 12, 2012

The bids for Saab are currently being evaluated by its bankruptcy administrators. A decision will come before summer arrives. The administrators declined to reveal the identities of the bidders. The deadline for offers was last Monday. Aside from Chinese-based automaker Youngman, there are other companies that have expressed interest to purchase Saab’s estate.

Those who have made offers according to the media are India automaker Mahindra & Mahindra and a Japanese-Chinese consortium that hopes to build electric vehicles at Saab. According to bankruptcy administrator Hans Bergqvist, all the bidders aim to resume car production at Saab's plant in Trollhatten, Sweden.

He said that they are assessing the bids so that they can continue with the talks. Bergqvist's law firm Delphi has announced last Tuesday that Saab’s assets amount to 13 billion kronor ($1.9 billion) while it has assets of only 3.6 billion kronor.

He informed Swedish reporters that hopefully, the bidder that will succeed will pay higher than the worth of its assets. Last December, Saab was declared to be bankrupt after former owner Swedish Automobile had implemented rescue efforts but had failed.

Topics: saab, bankruptcy

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
Nearly all details have been set with regards to the upcoming market introduction of the new Jaguar I-Pace. Its production version was recently previewed at the 2016 Los Angeles Auto...
by - December 8, 2016
WM Motor, a new China-based automaker, recently revealed its forthcoming lineup consisting of affordable electric vehicles. While there is a company is the U.S. that has the same name, they...
by - December 8, 2016
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