Saab administrators evaluate bids for carmaker
Decision expected before summer
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Saab's bankruptcy administrators have said they are evaluating bids for the Swedish brand and aim to make a decision before the summer.
The administrators did not disclose who the bidders are after a final deadline for offers passed on Monday.
Chinese carmaker Youngman is the only company to publicly register its interest in buying the automaker's estate. Media reports have said that India automaker Mahindra & Mahindra has made an offer and so has a Japanese-Chinese consortium that wants to produce electric vehicles at Saab.
Bankruptcy administrator Hans Bergqvist told the Swedish press that all the bidders wants to restart car production at Saab's plant in Trollhatten, Sweden. He said the bids are being evaluated as a base for continued discussions.
Bergqvist's law firm Delphi declined to comment on the bids when contacted by Automotive News Europe.
Bergqvist reported on Tuesday that Saab has debts of 13 billion kronor ($1.9 billion) and assets of just 3.6 billion kronor. He told Swedish media that he hopes the successful bidder will pay more than the assets are worth.
Saab was declared bankrupt in December after rescue efforts by its former owner, Swedish Automobile, failed.
You can reach Nick Gibbs at nick.gibbs@btinternet.com.
