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Saab Administrators Evaluating Bids, Decision Due Mid-year Photo:
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Mike Stevens | Apr, 12 2012 | 1 Comment

The administrators charged with finding a new owner for Saab have confirmed that bids for the brand are being evaluated, and a decision is expected to be reached in the coming months.

According to US industry paper Automotive News Europe, bankruptcy administrator Hans Bergqvist has confirmed that all parties have confirmed intent to re-start production of Saab cars.

He added that Saab's debts total more than AU$1.8 billion, while its assets are valued at just $511 million. It is hoped that the final purchase will total more than the value of the brand's assets.

The identities of Saab's suitors have not been disclosed, although China's Youngman has already revealed its interest.

Earlier this year, enthusiast website Saabs United reported that bids have been taken from as many as seven parties, including Youngman, India's Mahindra & Mahindra, and Turkish equity firm Brightwell Holdings.

BMW has also figured in recent reports, with a Munich-based company understood to have made a bid. Whether the company is a carmaker however was not revealed.

With a new range of front- and four-wheel-drive platforms on the way, BMW - you would have to think - might be well-placed to put the Saab badge to work on a whole range of new and more affordable models. After all, it scooped up Mini from the discard bin.

For any potential buyer however, the issue of GM owning much of the technology in Saab's existing line-up could prove a significant hurdle.

Filed under Saab bankruptcy News industry
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