Is SAAB to be sold to Mahindra of Mumbai?

 

As a myriad rumours and possible outcomes surround the future of SAAB, it now seems that the Swedish car manufacturer could soon belong to Mahindra of Mumbai, who has most recently expressed an interest in buying at least some of the Swedish giant’s automotive assets.

Far-reaching speculation ensued alongside the potential involvement of other interested parties such as Tatra of the Czech Republic and even the Turkish Government. Now, January 2012 is all set to become the most important time for all involved in SAAB. Although Swedish law allows for companies to return from bankruptcy (given the necessary support from investors), current documentation notably states that SAAB assets amounting to over €3,000,000 would probably be used to repay creditors such as Sweden's National Debt Office.

So, if SAAB can still be saved, the only question is who will come to its rescue? Visitors to the SAAB (GB) website will also learn that the sad decision to enter into administration has been made and that after months of talks, Grant Thornton UK LLP has appointed joint administrators David Dunckley and Daniel Taylor with immediate effect; they’ll now take over from the directors. A helpline is available for anyone with ongoing questions regarding the future of the automotive giant which could either be bright of brief; call 0845 300 9593 or visit Saab UK for further information.

By Anthony Standring
Journalist/ Acting Editor