Report: Genii Capital has withdrawn its bid for Saab
By Andrew C., 27 Aug, 2010. 0 Comments
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According to the latest reports, it appears that Bernie Ecclestone's Genii Capital has withdrawn its bid for Saab, which means Spyker is the remaining bidder for the company. "Genii Capital believes that the timing of the next stage of the shutdown process at Saab is not compatible with its requirements for putting in place a solid business platform for the future and closing the transaction," said Genii's statement.
GM's new CEO also confirmed that the company is in advanced talks with Spyker Cars over the sale of Saab. "Obviously there have been advanced talks with Spyker cars to acquire Saab. However, we do not have a deal to announce. If and when that changes, we will let you know," Whitacre said. [via autocar]
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