Home / Auto News / News article: Turkish Private Equity Firm Confirms Saab Bid in the Works - AutoGuide.com News
 |  Jan 19 2012, 7:43 PM

A Turkish private equity firm, Brightwell Holdings, has announced its interest in placing a bid on now bankrupt Swedish automaker, Saab. The firm, based out of Istanbul, invests in energy, transport and technology and wishes to buy all of Saab and wishes to keep production in Sweden.

“We will make a bid very shortly, there’s no question,” Zamier Ahmed, a board member of the group, said. The firm is currently in discussions with those overseeing Saab’s bankruptcy in addition to Saab CEO Victor Muller. Brightwell Holdings aren’t the only ones making bids, as China’s Youngman continues its pursuance of Saab with rumors that they’ll make an offer worth several billion Swedish crowns.

Brightwell’s offer is probably a couple of weeks out though as they continue to evaluate Saab’s assets, including its inventories, in order to determine what they’ll be willing to pay. For Saab to emerge from bankruptcy however, the offer will need GM’s approval along with the Swedish government and the European Investment Bank.

[Source: Automotive News Europe]

  • R. MAUNDER

    SAAB IS QUALITY, IT IS WELL BUILT AND HAS A GREAT TRACK RECORD,ITS ONE OF THE BEST CARS ON THE ROAD AND WILL GIVE GM A RUN FOR THEIR MONEY.
    YOU WILL BE BUYING A COMPANY WITH A WORK FORCE NEXT TO NONE, HOPE THAT
    YOUR OFFER WILL BE ACCEPTED. YOU WONT REGRET IT.