GM selects AlixPartners to oversee the wind-down of Saab
By Andrew C., 26 Aug, 2010. 0 Comments
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Corporate restructuring firm AlixPartners was chosen by General Motors Co. to oversee the wind-down of Saab. Nonetheless, GM continues to evaluate proposals from various companies who want to buy the Swedish brand. In a statement, GM said that the evaluation is not affected by the appointment of AlixPartners and that it's actually a common practice in Sweden to get another company to supervise certain aspects of the business such as the wind-down.
Aside from Spyker Cars, which made a revised offer, it has also been revealed that the investment group Genii Capital and Formula One motor racing boss Bernie Ecclestone made a bid as well. Dutch luxury-car maker Spyker Cars NV also said it had made a revised offer. According to Swedish media reports, Jan Nygren, a former executive of the aerospace arm of Saab and former senior official in Sweden's defense ministry, leads a group of Swedish investors who made a last-minute bid.
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