General Motors CEO Fritz Henderson, speaking to the media just minutes ago in New York, seemed mostly unaware of the situation at the automaker’s Swedish unit, Saab , but he did end some speculation as to the identities of the top bidders for the automaker.
“I don’t think Ripplewood or Fiat are interested in Saab,” Henderson said, and then later confirmed that the two firms are not among the three bidders currently competing for Saab.
Henderson seemed unclear as to Saab ’s current status, however. He said that he “thinks they’ve received an extension” for protection from creditors. Last week, Saab received an extension from a Swedish court.
Fiat, which lost the bid for Opel to Magna International, has said it is stepping up its level of interest in Saab, which will add a small increase in capacity to the Italian automaker, as well as GM’s Latin American operations. Henderson’s comments seem at odds with those we have heard from Fiat CEO Sergio Marchionne.
Ripplewood Holdings, which owns Reader’s Digest, among other diverse items, had long been rumored as a Saab bidder, too. Ripplewood had been a major bidder in Ford ’s sale of Jaguar and Land Rover .
