Swedish Carmaker Saab Being Eyed By Several Potential Buyers
By: Ainsley Brown
In court papers presented to creditors in early April, the Swedish car maker, Saab explained that it has had extensive contacts with about 20 potential buyers. Saab, which is being cut lose by General Motors (GM) as part of its own restructuring efforts, filed for bankruptcy in February.
In filing for bankruptcy Saab is hoping to buy time in order to restructure itself back in to a viable company and also find a new owner. The Vanersborg District Court now has to decide whether to let the restructuring go ahead or let Saab be wound up. There is a strong likelihood that the court will indeed allow the restructuring to go ahead given amongst many things the interest being shown in Saab.
