Arab Today, arab today saab offers evaluated by administrators
Last Updated : GMT 12:30:11
Arab Today, arab today
Arab Today, arab today

Saab offers evaluated by administrators

Arab Today, arab today

Arab Today, arab today Saab offers evaluated by administrators

London - Arabstoday

Reports of Saab’s death may or may not have been greatly exaggerated. The saga has been dragging on for over a year and whilst the Swedish carmaker filed for bankruptcy last December, it’s far from over. According to Automotive News, the deadline set by the administrators who handle Saab’s bankruptcy expired on Monday, April 9. Hans Bergqvist, one of the administrators who evaluated the offers, reportedly told the Swedish press that all bidders want to restart production – though, like the rest of his colleagues, he wouldn’t disclose their identity. Bergqvist added that while Saab’s assets are worth 3.6 billion kronor (US$520 million), its debts amount to 13 billion kronor (US$1.9 billion). Nevertheless, the administrator said the winning bidder would hopefully pay more than what the assets are worth. China’s Youngman Group, which has been involved in 2011’s failed rescue plan, is the sole bidder to have publicly declared its intent of acquiring Saab. Other interested parties reportedly include Indian carmaker Mahindra & Mahindra, Turkish private equity firm Brightwell Holdings and a Japanese-Chinese consortium that wants to produce electric vehicles.

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