Three groups have entered bids for Saab, General Motors’ insolvent Swedish car brand, and GM will choose a preferred bidder by the end of this week in a spin-off it will largely finance itself.
Koenigsegg, the Swedish supercar maker; Renco, a private holding that bought and turned around the maker of Humvee military vehicles, and a third group of investors from the US state of Wyoming have expressed interest in Saab, according to two people briefed on the sale.
GM has invited the three groups to meet for talks this week, ahead of the planned signing of a memorandum of understanding with one or more of them, according to one of the two people, who requested anonymity because details of the sale are confidential. Koenigsegg and Saab declined to comment, and Renco was unavailable for comment on Monday…..
….The third group, private investors who trade as Merbanco, could not be reached for comment on Monday.
Merbanco do not have a website as far as I can tell, but I have some leads and hope they’ll be willing to talk a little about their plans for Saab.
So far we have worries in terms of Renco’s record and worries in terms of Koenigsegg’s scale and finance. If these guys were as liked as sources last week said they were, then now’s a good time to say why and sell your message.
UPDATE: I’ve tried a few different contacts and have managed to compile some info, but it seems Merbanco have gone to the mattresses. We’ll see what pans out overnight (US time)
Remember, they haven’t confirmed this to FT.com as yet, so we’re all chasing our tails a little on this one.
The geography fits, though, and as a few have noted in comments, there’s a fair bit of money in tax-friendly Wyoming.