Saab to be revived by Turkish rescuer?
The saga of Saab might not yet be over – a Turkish private-equity firm is planning a bid for the bankrupt maker.
Istanbul-based Brightwell Holdings says that if successful it would restart car production in Sweden.
The firm, which has a history of investment in transport, technology and energy, has stated that it is in negotiations with both Saab’s administrators and its CEO Victor Muller. It plans to buy the entire company.
Brightwell told Bloomberg News that an offer would not come for at least two weeks while it evaluates all of the assets of Saab, which filed for bankruptcy on 19th December.
Meanwhile Saab’s former intended partner, Chinese giant Youngman Lotus, is reported to be planning a new bid.
Youngman’s previous attempt collapsed because Saab’s former owner GM objected to the Chinese firm having access to technology it had licensed to Saab. This objection tipped Saab into bankruptcy.
Words by: Andrew Charman