Spyker said to be sole remaining bidder

Business Week are reporting the following:

Dutch supercar maker Spyker Cars NV is the lone remaining bidder for General Motors Co.’s Saab Automobile unit, said two people close to the situation.
GM will probably decide whether to continue sale talks or liquidate Saab by Jan. 18, said one of the people, who asked not to be identified because the details aren’t public.
…..Spyker has offered GM $75 million in cash and $325 million in preferred shares in the new company that would emerge from the transaction, said two people. GM would also keep $100 million of Saab’s existing liquidity, said the people. The details of the bid may change, said two people.

We’ve head that Merbanco are out of the race. The Nygren/Samuelsson bid always seemed a little weak to me, given that it was based on 45,000 – 50,000 cars a year.
Genii say that they are still prepared to talk with GM, so it seems that whilst they may not have received the same cut-off phone call that Merbanco received at this point, GM’s focus is on doing the deal with Spyker.

“There are uncertainties over the sale of Saab, but we remain committed in our attempt to buy,” Lars Carlstroem, the Swedish investor working with Genii, said in a telephone interview. “We are still very serious and ready to support Saab in the long term. We expect to enter fruitful talks early next week.”

Thanks to Lukas for the tip.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.