TROLLHATTAN, Sweden — General Motors will choose two to three preferred bidders for its Saab brand this week, industry sources tell Automotive News Europe
The sources would not say which bidders have the best chance to make it to the next round of talks.
When asked for comment, Saab spokesman Eric Geers declined say how many bidders would be left by next week.
“The number of bidders will be reduced to a few very soon. We want to work with fewer companies so we can have more detailed negotiations,” he said. “We expect a deal to be in place by early summer.”
Saab parent General Motors is examining proposals from about 10 bidders for the automaker, which has attracted interested from Chinese automakers such as Geely, Swedish supercar maker Koenigsegg , European investor groups and private equity firms, according to media reports.
I’m not sure when we can expect an announcement, and if we get one I’m not sure that it’ll identify the winning parties.
All I know is that according to Saab’s schedule, we’re only around six weeks away from signatures on the bottom line…..and this will be an important milestone along that path.