GM Saab

You keep me hangin’ on

Saab's duture still uncertain

Set me free, why don’t you babe. Get out my life, why don’t you babe. ‘Cause you don’t really love me. You just keep me hangin’ on. You don’t really need me. But you keep me hangin’ on…

Yep, you guessed it, despite yet another deadline passing and a reported four bids received there is still noone behind the wheel at Saab. It is understood GM is allowing an extra 24 hours for Spyker to secure funding to finalise their latest offer for the Swedish car brand.

Other interest is reported to have come from Genii Capital, for those playing at home you may remember these are the same guys that forked out some cash to keep Renault F1 afloat. Now, if you’re really paying attention you’ll know it was Koenigsegg that kicked off this whole Saab buying malarkey. Supposedly, Genii’s bid is effectively the Koenigsegg bid in new clothing. Although, this deal gets more intriguing when you realise the Genii in the bottle is none other than F1 supremo Bernie Ecclestone. That’s right, Bernie is part of the Genii Capital bid for Saab.

A Genii spokesman reckons Saab are ripe for the picking and can’t understand why people aren’t banging down the door at GM with wads of cash, “It is a true opportunity and we’re surprised that more investors haven’t identified this opportunity,” he added, “Saab is a strong brand on the same level as Porsche and BMW.”

Unidentified bids from two Swedish business groups are also expected to be lodged with GM.

For their part GM just wants to get over Saab and start afresh. “Just show up with the money and you can have it [Saab], but nobody’s showing up with the money,” says GM CEO Ed Whitacre. Maybe the readers of AUSmotive can help Ed come to a conclusion—Kim Wilde or The Supremes?

[Source: Autocar & SaabsUnited]

3 replies on “You keep me hangin’ on”

“Saab is a strong brand on the same level as Porsche and BMW.”

No it’s not.

[…] As expected GM received a number of offers for Saab by their 7 January deadline. GM’s statement says these will be considered independently of the wind down process, “GM also confirmed that it has received several proposals for Saab and is continuing to evaluate these proposals. This evaluation is not affected by the appointment of AlixPartners.” var addthis_pub = ”; var addthis_brand = ‘’;var addthis_language = ‘en’;var addthis_options = ‘twitter, technorati, google, facebook, digg, delicious, reddit, live, email, favorites, more’; […]

Comments are closed.