[Subscribe to Daily Digest] |
i'll paste it since link is cut-
STOCKHOLM (Dow Jones)--Former Swedish deputy prime minister Jan Nygren Friday confirmed he is part of a group which is bidding for General Motors Co.'s (GM) Saab Automobile AB unit.
"The only thing I have reason to say now is that I can confirm that I am a part of a group that has expressed interest to buy Saab, to prevent the company from being winded down," said Nygren, who is also a former Chief Executive of Swedish defence company Saab AB (SAAB-B.SK).
The group has submitted "a basis" to GM, Nygren said when asked if a bid had been submitted, later adding it could be called "a bid".
Nygren said the group's bid was submitted before the deadline Thursday, but that they haven't heard anything from GM since.
"We don't know what GM's process looks like," Nygren said.
He declined to comment on a report in Swedish daily Dagens Industri Friday, that says former MAN SE Chief Executive Hakan Samuelsson is also part of his group, vying to takeover Saab via an alleged management buyout.
Nygren didn't say whether the group has support from Saab's management.
"One can continue to speculate," he said when asked for more information.
Dagens Industri wrote that "there is no information on who would supply the financing," adding that available information is "scanty."
The paper said Hakan Samuelsson is said to have a business interest in the venture, which reportedly aims for a downsized Saab without the aid of loans from the European Investment Bank.
Also trying to buy Saab are Formula One supremo Bernie Ecclestone and partner Genii Capital, a Luxembourg-based private equity company.
Spyker Cars NV (SPYKR.AE) said Thursday it too had submitted a revised offer to acquire Saab. The Dutch sportscar maker emerged as a buyer for Saab after the withdrawal in November of a planned bid by Koenigsegg Group AB.
GM has said it will look at any bids.
posted by 98.229.2...
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.
 |
 |
 |
 |
 |
