The ongoing saga around Saab’s bankruptcy seems to never end, and this time around there may be six to seven serious bidders for the Swedish automaker, one of which is believed to be BMW.

At their weekly press conference, the company touched on its pressing salary situation for its current employees and mentioned that it would take at least another week to sort things out; but the more interesting news is that the highest bidder may not get the deal, according to Saab. The Swedish automaker is looking for a company that will present the best option for the creditors, employees, and the region the most. Which essentially means that Saab will go to the company that has the money, knowledge, experience, and credibility to continue producing Saab vehicles.

It was confirmed that one of the six or seven bidders was a European automaker based out of Munich, which leads many to believe that it is BMW since the two firms once signed an engine purchasing agreement back in 2010. It would be mighty interesting if BMW is able to come out of this one to not only continue producing Saab vehicles, but using their platforms for their own models and even MINI ones.

[Source: Saabs United]

Nails just keep dropping in Saab‘s coffin, despite Chinese company Youngman’s attempts to sway the tide otherwise.

The latest detail in what’s become a sad saga of failure has to do with dealerships and their reaction to being caught in the fallout. It’s probably easy to forget, but if an automaker goes belly-up, the folks who made a living pedaling their products have to find a new source or go home.

That’s exactly what’s happening with many of the 900 Saab dealers worldwide who are either giving up the ghost or getting creative to stay in business.

Depending on their plans for the company, anyone trying to resurrect the defunct brand may find a dealer exodus too great a burden to overcome.

Without a conduit to sell cars, there is very little an automaker can do to bring their vehicles to market. Given this development, there is only one realistic business option: a company absorbing Saab purely to own their patents and to adopt their engineering.

If that were the case, we could start seeing Saab drivetrains and tech popping up in other cars around the world.

Brand names changing hands isn’t uncommon in the automotive world, Fiat now owns Chrysler and Ferrari, Volkswagen is the master puppeteer behind a myriad of companies including Porsche and Lamborghini and the automotive smorgasbord is hardly finished.

That said, we’re anticipating Saab will continue its slow somersault into the scrap bin with fewer hands reaching to catch their fall as the months wear on.

[Source: the Detroit News]

Although Saab‘s museum in Trolhattan, Sweden luckily escaped liquidation, the same cannot be said for the former automaker’s US based Heritage Collection, currently housed in Michigan.

McTevia & Associates, the legal firm brought in to deal with Saab North America’s creditors and dispose of its remaining assets, announced that cars in the Heritage Collection will be sent to auction (bids had to be registered before Friday, February 10th at 12 noon Eastern Standard Time).

Among the vehicles up for grabs, include a restored 1952, model 92 (the company’s first series production model), a 1956 94 Sonnet Super Sport roadster (one of just six built),  Erik Carlsson’s famous 1960 RAC Rally winning 96, a rare 1960 93F Gran Turismo 750 (a car inspired by the Carlsson rally machine), an early US spec (1978) 99 Turbo hatchback, a 1986 900 convertible prototype, plus a 9000 and “new generation” 900 that set speed and endurance records at Talledega Motor Speedway. Also up for grabs is an example of the 1987-91 Saab Pro Series open wheel race cars, developed in conjunction with Skip Barber and powered by stock Saab turbo four-cylinder engines.

However, rather than break up the collection and sell each of these cars individually, all of them will be auction in one block, without titles and in “as is” condition, meaning there’s a good chance they could end up as part of another museum’s stock.

GALLERY: Saab American Heritage Collection

[Source: Hemmings Motor News]

Following Saab‘s declared bankruptcy, the outstanding balance on the $400 million euro ($526 million) loan given to the automaker by the European Investment Bank required payment, since it had been guaranteed by the Swedish Debt Office.

Now, the Debt Office has reported that the outstanding balance on the loan (equivalent to some $325 million) has been paid, making the Swedish government the former automaker’s largest creditor.

With Saab assets, including shares in the parts and tooling divisions held as collateral by the Debt Office (which are worth more than the loan itself), sources have reported that the Swedish government is looking to sell the automaker as a whole entity, instead of breaking up and selling off various assets through bankruptcy.

Former suitor Zhejiang Youngman Lotus Automobile Group, whose last-minute rescue bid was blocked by General Motors, causing Saab to collapse in December, is reportedly still interested in acquiring the  former Swedish automaker, though so far, no official bids have  been announced.

[Source: Auto News]

Last week we reported the news that Saab was auctioning off the vehicles in its museum, with over 120 different models looking to be separated from one another. It appears that Saab enthusiasts and the city of Trollhättan, where the museum is located, wasn’t too keen on that idea.

The museum has been saved thanks to the city of Trollhättan, SAAB AB and The Wallenburg foundations. The trio paid over $4.1-million for the whole collection to remain in Trollhättan, but more importantly none of the cars will be separated from one another. The running costs of the museum will also be absorbed by the city and the regional government.

This is great news for what little may remain of Saab history, with the museum presumably housing the most complete collection of Saab vehicles in the world.

[Source: Saabs United]

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]

Just when it seemed Saab would be gone from news headlines for good, Youngman swooped in again to make a bid.

Apparently the company hasn’t given up on getting Saab back up and running. According to Dagens Industri, a Swedish business news organization, the Chinese firm is submitting a £430 million offer, or about $560 million.

They are choosing to make that offer despite GM’s previous sabotage attempts which were meant to keep the company out of Chinese hands. A miniature war was waged last year between Youngman and GM when the American giant decided such a sale would unfairly divulge technology being used in the 9-4X.

Youngman seems unfazed, however, and is continuing their pursuit which will include an additional $520 million being invested. If they actually manage to take the company, they plan to resume production of the 9-3 in April or May.

[Source: Autocar]

Bold and ambitious, Victor Muller founded Spyker Swedish exotic sports cars before purchasing Saab, believing in its return to past glory under his leadership. Confident in his abilities, Muller’s gamble on Saab put Spyker in danger as well.

Following Saab’s devastating bankruptcy, Swedish Automobile N.V. (Swan for short, formerly Spyker Cars N.V.) have announced that there are talks on the possible sale of Spyker as well. On the other hand, if Swan chooses to keep Spyker, then the company faces the difficult challenge of securing funds. However, if Swan is unable to raise capital or if a suitable buyer cannot be found, Spyker will likely suffer an unfortunate fate similar to Saab.

Plans to sell Spyker were hinted in the past as financial firms CPP Global Holdings and North Street Capital showed interest in the Swedish boutique automaker. But, inexplicably, both deals fell apart without any statements issued or information disclosed. Meanwhile, Spyker is also carrying debt held by Tenaci Capital BV, controlled by Victor Muller himself and wealthy Russian, Vladimir Antonov. Making matters even more serious, four of Swan’s supervisory and management board members, Hans Hugenholtz, Maurizia La Noce, Alex Roepers, and Rob Schuijt have resigned after disagreements with Victor Muller. Seeking nothing less than a Hail Mary pass, Swan issued 2.5 million shares to seek more investors. Despite the effort, existing shares of Swan have fallen to €0.22.

While the Spyker was never a popular marque, its sports cars are a celebration of spirited driving, luxury, and attention to the smallest detail. As time and money runs dry, we may soon witness the end to Spyker’s brilliant and short existence.

[Source: Autoweek]

Next on the chopping block for Saab is the auctioning of over 120 Saab models from the Swedish automaker’s museum at its headquarters in Trollhättan.

Car collectors from all around the world will now have the opportunity to own some very rare and even one-off concept models from Saab’s museum including their UrSaab prototype, the automaker’s first car. Some of the other vehicles that people will have the opportunity to bid for include a 1974 Saab 98 prototype, 1981 James Bond Saab 900 Turbo, 2001 Saab 9X concept and the Subaru Tribeca-based 9-6X prototypes.

You can hit the source for the PDF file from Delphi, a Swedish law firm, with all of the Saab museum vehicles being auctioned off.

[Source: Delphi Law Firm - PDF File via Carscoop]

It seems that General Motors is feeling a little guilty for how things went down with Saab, but just a little guilty. GM will be contacting 70,000 plus Saab owners and offering them the “GM Saab private offer” to help quell any negative feelings left over after the closing of Saab’s doors.

The incentives won’t be huge, but may be just enough to convince some consumers to replace their old Saab with a new GM product. The Saab private offer listed on the GM website is as follows:

Beginning January 4, 2012 and continuing through February 29, 2012, select General Motors SAAB customers are eligible for the SAAB Private Offer off the purchase or lease of new vehicles.  Refer to program 12-40CR for official guidelines and vehicle eligibility.

SAAB Private Offer:
• $250 Chevy Equinox, Sonic, & Volt, GMC Terrain, & Buick Verano
• $500 all other Buick, Chevy and GMC vehicles
• $1,000 all Cadillacs, Chevy Corvette, Avalanche, Silverado, and GMC Sierra

We will have to wait and see if these meager offerings are enough to swing some favor in the Generals direction.

[Source: Jalopnik]