According to Swedish media, two new bidders for General Motors’ Saab brand have already emerged following the termination of a potential sale to the Koenigsegg group. Reports say that both Beijing Automotive (BAIC) and Wyoming-based merchant bank Merbanco are seriously investigating putting a bid up for Saab.
Beijing Auto was a minority partner in the Koenigsegg bid and Merbanco was amongst the last three bidders this summer
The owner of Merbanco, Christopher Johnson, is a self-confessed Saab enthusiast and his father, is the founder of AGCO, helped turnaround a number of companies.
According to GÃ¶tbergs Posten, the Koenigsegg bid was terminated partly because of worries about BAIC getting hold of GM”s technology. That will apparently be a big hurdle for GM accepting BAIC bid for Saab.
– By: Omar Rana