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Final mile for Saab

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Final mile for Saab

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Saab’s parent company General Motors has confirmed it is still reviewing the bids it has received, but has also appointed a restructuring firm to oversee the closure of the Swedish carmaker.

Saab’s potential buyers include Formula One supremo Bernie Ecclestone who is joined forces with a Luxembourg based private investment company saying the iconic Swedish firm has a “tremendous brand value.”

A group of Swedish investors has also scrambled to submit a last minute bid for Saab.

It is reported to be headed by a former executive of the aerospace arm of Saab who was also a top official in the Swedish defence ministry.

The Dutch luxury carmaker Spyker has also confirmed it had made an improved bid this week.

It is hoping to gain Saab’s technical resources and its distribution network, while bringing its entrepreneurial skills to the new group.