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 14, 2012

GM not in discussions with anyone

When Saab filed for bankruptcy on December 19th 2011, it was after former owner and main technology provider General Motors (GM) made a statement that it would not continue supplying technology to Saab should Saab become partly Chinese owned. Later GM extended its no to any potential buyer of Saab.

GM's firm reluctance to continue supplying technology was last week reported to be a reason for Indian company Mahindra & Mahindra supposedly dropping out of the race to acquire the Saab bankruptcy estate. But one of the other parties interested in acquiring Saab, Turkish private equity firm Brightwell Holdings NV, has insisted that it has been in talks with GM concerning a technology deal and has expressed confidence that a deal with GM will be reached. But now GM with spokesman James Cain once again reaffirms that GM is not in discussions with anyone.

"It is been reported that we are in discussions with Brightwell, but categorically, we do not discuss with them. We do not discuss with anyone," James Cain said to local Trollhättan newspaper TTELA.

Cain could however reveal that GM has received several requests to start discussions.

"We have received requests to have a dialogue from several third parties, but we have not begun discussions with anyone," said Cain.

The good news is that according to TTELA, the impression the newspaper got from Cain was that the doors are not completely closed. The newspaper reports that Cain "does not rule out a future dialogue".