Report: Genii-Ecclestone to Offer $1 For Saab

What’s Swedish automaker Saab worth? According to some reports, just $1.

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Breaking: Saab Shutting Down Says General Motors CEO

It’s been said several times before, but GM Chairman and CEO Ed Whitacre today told reporters that the company is shutting down its Swedish Saab unit. “We’re closing down Saab,” he said. “We’re winding it down.”

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Breaking: GM Hires Firm to Wind-Down Saab, While Continuing to Evaluate Proposals

The future of Saab just became a little more certain today. Or did it?

General Motors has released in a statement that it has hired on AlixPartners to oversea the wind-down of its loss-making Saab unit. In other words, GM is planning to close the doors on the Swedish automaker, sending the company into liquidation and the employees to the soup kitchen.

But hold on… GM also announced, in the same statement, that it has received several proposals by companies looking to purchase Saab and that it is, “continuing to evaluate these proposals.”

Yesterday GM delayed a board meeting that was to decide the fate of Saab, with rumors that it had given until today to get clear proposals from the two main interested parties: Dutch exotic car maker Spyker and and a newly interested party, Genni Capital.

Recent reports have tied Formula One boss Bernie Ecclestone to the Genni Capital bid.

GM has been trying to off-load Saab since it emerged from bankruptcy, with previous efforts, including a sale to Swedish supercar maker Koenigsegg, having fallen through.

Official GM press release after the jump:

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