Adding a new twist to Saab’s ongoing bankruptcy process, Turkish private-equity firm Brightwell Holdings BV has announced that it plans to bid on the Swedish automaker. The news comes just one day after Chinese automaker Youngman confirmed that it was still interested in purchasing the bankrupt car maker.
Brightwell currently has investments in the energy, transportation and technology industries, and apparently wants to add auto manufacturing to its portfolio. The company says that it would revive Saab’s manufacturing business.
“We will make a bid very shortly, there’s no question,†Zamier Ahmed, a board member of the Istanbul-based group, told Bloomberg.
Talks between Brightwell and Saab Chief Executive Officer Victor Muller have reportedly been ongoing for the last few days, and Muller previously stated that Saab could emerge from bankruptcy with the help of a viable partner. Brightwell says it will evaluate Saab’s assets over the next two weeks before placing a bid.
Any bid to purchase Saab would require the approval of General Motors and the European Investment Bank.
