GM was criticized in Sweden after winding down Saab
By Andrew C., 27 Aug, 2010. 0 Comments
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General Motors Co.'s decision to simultaneously review offers for Saab while winding it down received some criticism in Sweden. GM had named a restructuring firm to run the winding-down of Saab. Consultancy AlixPartners is now handling the liquidation of Saab. One of the offers reportedly was being led by Formula One president and CEO Bernie Ecclestone.
In a statement, IF Metall chairman Stefan Lofven said that it is irresponsible of GM to move in two different directions at the same time. GM has been attempting to sell Saab for more than a year. If the carmaker doesn't think that any of the bids are suitable, then it will move to shut Saab. GM said that the process is expected to take several months. It added that it is evaluating several bids submitted for Saab and it assures everyone that the evaluation is not affected by the appointment of AlixPartners. [via autonews]
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