Mahindra still in the game
January 24, 2012 in News
P4 West reports: that the large indian company Mahindra which employs more than 140’000 people worldwide and early on declared its will to buy what is left of Saab has now visited Trollhättan.
The first meeting was canceled by the bankruptcy administrators who referred to other priorities. but at the end of last week a meeting is to have taken place.
Mahindra has appointed advisors to get an overview of Saab, a so called due diligence*
According to sources, Mahindra is interested in buying all of Saab and also interested in producing cars in Trollhättan.
How quickly Mahindra can get a grip of the situation and present a bid is unclear, according to P4 West’s source.
– “They have to work very quickly in order to make a purchase.”
*“Due diligence” is a term used for a number of concepts involving either an investigation of a business or person prior to signing a contract, or an act with a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. A common example of due diligence in various industries is the process through which a potential acquirer evaluates a target company or its assets for acquisition.