IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Tuesday, February 28, 2012

Several bids for Saab received by deadline yesterday

Today the Saab bankruptcy administrators held their weekly press briefing and here's a summary.

Both administrators, Hans Bergqvist and Anne-Marie Peotoux, were present at today's briefing. Picture from TTELA.

On the press brief administrator Hans Bergqvist could reveal that they have received several bids by the deadline which was yesterday.

"We had a deadline yesterday for interested parties to submit indicative bids. This means that they had to specify what they want to buy. We have received a number of bids, and there has been febrish activity," Bergqvist told the media.

Bergqvist would not say how many bids which have been placed, but he said that there are bids from both international and Swedish parties.

"We will evaluate the bids and consider how conditions and reservations can be met," said Bergqvist.

"The interested parties at slightly different stages in the process and we will have to wait and see what they have to contribute. If they have what it takes, then they will get the chance, just like the other parties," Bergqvist said.

The administrators also confirmed that one party has withdrawn (Turkish Brightwell yesterday announced that thay have withdrawn from bidding), but would not say if any more parties have dropped out.

"We perceive all indicative bids as well motivated and sufficient for further evaluation."

None of the bids do however cover the debts of the bankruptcy, said administrator Anne-Marie Peotoux.

"We will not comment on the future time table," the administrators said.

The administrators are still aiming at selling Saab as an entire entity.

"We have plan on how to make it happen. But that's not something we want to reveal."

"We are well underway in the process, and not delayed. We have a number of interested parties that are concrete enough so that the conditions for a continuation is good," said Bergqvist.