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]