Saab in discussions with Turkish government as possible investor
By Jonathan, 31 Dec, 2011. 0 Comments
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Saab and the Turkish government are in discussions as the bankrupt Swedish automaker seeks an investor to help it recover, German magazine auto motor und sport reported, citing sources close to the carmaker's management. The magazine also said that Victor Muller, the chief executive of Saab owner Swedish Automobile, initiated the meetings after the Turkish government expressed interest in the vehicle manufacturer. The magazine also stated that discussions were still at a very early stage. The automaker was not available to make a comment.
For 64 years, Saab has been making vehicles. Last week, a court declared the company bankrupt, which ends a nine-month survival battle by its Dutch owner. Muller stated at the time there was interest from investors to control Saab, though any deal would require the approval of the former owner and key license holder General Motors.
Last week, Industry Minister Nihat Ergun of Turkey stated that the government was not interested in Saab. On Friday, Swedish business daily Dagens Industri reported that one of the largest automakers in India may also be interested in buying parts or all of the company. [source: AsiaOne]
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