Telesto Ventures, an investment group that includes private equity firm Black Oak Partners LLC, says that it wants to acquire Saturn’s retail operations and provide its dealers with vehicles from General Motors through 2011. After 2011, Telesto wants to provide Saturn with mostly overseas models.
GM spokesman Steve Janisse says that the group’s proposal is legitimate and “very interesting.”
“I can tell you this is one of the interested parties with Saturn and we have been working with them throughout this process,” Janisse told Automotive News. “There are other interested parties as well who we’re working with. But I can’t speculate on where all this will go.”
Telesto said that it is talking to several foreign automakers to offer vehicles through Saturn’s retail network.
– By: The Daily Auto Editor