Deadline for Final Bids on Saab is April 10

Deadline for Final Bids on Saab is April 10

As the Saab bankruptcy saga starts to come to a silent end, or so we hope, the deadline for companies to place their final bids for the Swedish carmaker has been set for April 10th.

Currently, the only company that has publicly registered its interest is Chinese automaker Youngman that has been in the picture since the bankruptcy began. Youngman’s original buyout was essentially broken up by General Motors, which still controls key Saab technology today.

Other companies rumored to be interested include Indian automaker Mahindra & Mahindra and an unnamed Japanese and Chinese consortium interested in producing electric vehicles through the Saab name.

Alas, it seems unlikely that assets raised will cover Saab’s current debt which is estimated to be about $1.8- to $1.97-billion. In fact, the attorneys handling Saab’s estate says any sale is unlikely to even cover “a portion” of the debt.

[Source: Automotive News]