General Motors has said that it plans to take offers for Saab through the rest of the year before making a decision whether to sell, close or parcel off the brand – but that’s reportedly not good enough for Sweden’s top business minister.
“They must at least have chosen one of the interested parties this week, otherwise it will be tough to complete a deal,” Svenska Dagbladet quoted Joran Hagglund, state secretary at Sweden’s Enterprise Ministry, as saying.
“Partly, GM has a lot of contracts to negotiate [with a possible buyer] and partly the European Investment Bank and the [Swedish] debt office need to undertake a detailed economic analysis of a buyer’s financial strength.”
GM has remained mostly mum about the situation after its board of directors confirmed in early December that Saab would receive a brief stay of execution while the company entertained offers.
Front-runners known to the public include American investment group Renco, China’s Beijing Automotive Industry Corporation and Dutch supercar manufacturer Spyker , which has been the most vocal bidder.
“They’re not aware of any deadline,” a Spyker spokesman told Reuters.
Spyker CEO Victor Muller has repeatedly said that he would keep producing Saab vehicles, while BAIC is said to be only interested in acquiring some of Saab’s assets. It’s unclear what Renco would want out of the Saab deal.
