Report: GM may have two new bidders for Saab

2010 Saab 9-3

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 Götbergs 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

Source: AutoCar