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, April 17, 2012

Youngman bidding SEK 3.2 billion

Updated 10:43 with info from administrators' press briefing

According to Dagens Industri, Chinese Youngman has placed a bid valuing the Saab bankruptcy estate to SEK 3.2 billion. It is believed that this is the lowest price acceptable for those creditors with collateral in buildings and equipment.

Also Indian Mahindra is reported having placed a bid and being present in Gothenburg ready to negotiate an acquisition.

On today's press briefing, bankruptcy administrator Hans Bergqvist said that the aim is to sell as much as possible of the estate in one sale. Bergqvist said that also the Saab parts company is part of the sale process.

"We want to get paid as much as possible, and so there are discussions ongoing about the price and which parts a sale will include."

"Saab Parts is definitely included."

The administrators have however not made any assessment to see if the parties are able to continue operation of Saab.

"All the interested parties have presented a business plan and placed a bid which corresponds to their business plan. We have to believe that the parties intend to implement the business plan."