Deadline for final bids expired

Finally the deadline for Saab bids has expired today at 17:00! According to TTELA the administrators are aiming to get a bid for more than 3,6 billion SEK. That amount of money seems to be the value for Saab. If they `ve got a bid that high is still the question.

The known parties interested in Saab are Youngman, Mahindra & Mahindra and a Chinese-Japanese consortium. The bankruptcy administrator Hans Bergqvist has confirmed to TTELA that new bids where placed even today. Hans refused to tell the names of the companies involved in the bidding process.

The name of the new owner of Saab is still unknown. It`s expected that the administrators reveil this name at the next press conference (next week).

"News" about Saab

Yesterday there was a press conference of the administrators of Saab Automobile. According to them Saab has very big debts, its in the figures of 12-13 billion SEK (1,8 to 2,0 billion USD).

The 10th of April `ll be the deadline for parties to place their final bid. The next press conference is scheduled one week later on the 17th of April.

Last week we`ve had a Saab meet at our local airport. Click here for more pictures.

BMW and Magna are not in the race for Saab unfortunately.

TTELA has previously written about reports that the famous German premium brand BMW, and Canada's major supplier and contract manufacturer Magna International would be interested in Saab's bankruptcy estate. Unfortunately both companies are denying these rumours.

- We have not changed position on the matter, said Markus Sagemann, press officer at BMW's headquarters in Munich.

But he adds that there may be an interest in specific things in Saab's bankruptcy estate.

- We had an engine contract with Saab, which unfortunately could not be completed. But any interest in the brand Saab or a major part of the estate has not been relevant.

According to Magna`s press officer Tracy Fuerst the company does not comment on speculation. But the company's CEO, Don Walker, has made clear that they do not want to acquire brands. They do not want to compete with their customers (GM is one of Magna`s customers).

Read original article in Swedish.

We had to post earlier that also Tata and Brightwell are not in the race for Saab (anymore).

Article about Saab 9-5 in FD

Unfortunately it`s rather silent on this blog at the moment. It`s not I do not want to write anymore, but there simply is no news to bring.

In the dutch newspaper FD this morning there was an article about Saab. The article is about an entrepreneur and his Saab 9-5 estate. See also this article about a Saab 9-3.

Click on the image to read the article. Below just a picture I`ve made yesterday of my 95.

Rumour about Tata untrue.

Yesterday I`ve written that there was a rumour about Tata & SAAB. I wrote that it was uncertain, and now we know for sure it was NOT true. Today Ratan Tata has confirmed Tata is not interested in Saab. Read here the (dutch) article about it.

Rumours of Tata's interest in acquiring SAAB

Today the "news" came that Tata (also an Indian company like Mahindra & Mahindra) has placed a bid for SAAB. On NU.nl (dutch) is written that the Tata bid is 350 million dollars. Unfortunately the Tata Motors spokesperson did not want to comment on "speculation", so nothing is confirmed yet (just like the rumour about BMW taking over SAAB).

But one thing is confirmed; there are offers received for SAAB before the deadline has ended. It can`t take a long time anymore before we know for sure which company is the new owner of SAAB.

Talija Draga (thank you!) reminded us this morning that today Mr. Saab (Erik Carlsson) has his 83th birthday! Our warmest congratulations Erik!

Click here or on the image of the URSAAB on top of this page to see our latest post on this blog.

Mahindra & Mahindra has placed a bid!

Last Tuesday Mahindra & Mahindra (the Indian car manufacturer) has placed a bid for the whole entity of Saab. It is believed that Mahindra & Mahindra is able to restart Saab without any license from GM.

It is the First of March today, as the administrators keep their word the soap about Saab `ll end very soon!