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Saab in contact with 20 potential buyers

Posted Monday, Apr 6, 2009, 1:52 pm in Employee Industry News

Saab Automobile, the troubled Swedish unit of General Motors Corp., has been contacted by some 20 potential buyers, with a sale planned in June, the car maker’s lawyer said Monday, according to the Associated Press.

Lawyer Guy Lofalk, in charge of restructuring Saab, told the AP that a sale of the company is a “crucial prerequisite for a successful reconstruction.” “Extensive contacts have occurred with interested parties,” he said in a court document presented on Monday to creditors in the Vanersborg District Court.

Saab’s chief executive Jan Ake Jonsson told Swedish news agency TT that the interested parties, from Sweden and abroad, include industrial firms and investment companies, the AP reported. Saab went into bankruptcy protection on Feb. 20 in an effort by GM to spin off or sell the unit. The danger of collapse still hovers over the ailing brand because neither GM nor the Swedish government appears ready to provide enough money to help it survive, the AP story said. (Associated Press/The Detroit News)
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