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, March 6, 2012

Final bids expected soon

Today the bankruptcy administrators held their weekly press brief. Here is a summary.

Present at today's briefing were both main administrators Anne-Marie Pouteaux and Hans L. Bergqvist.

"The process is proceeding as planned, we still have a dialogue with multiple interested parties. We answer many questions and expect the parties to soon hand in some sort of final bids," Bergqvist said.

Like last time, the administrators would not reveal the time table for the process. But it was understood that so far the process has been mostly in the form of exchange of information. Negotiations for a sale has so far not been opened.

"The next step is hopefully to start a negotiation and eventually reach an agreement with a buyer on the conditions of a sale," the administrators said.

"We will not make any public comments, but we have our own plan on how to proceed. We have a dialogue with the interested parties where they share their thoughts and ideas. We try to guide them to what we think is a good solution."

And a good solution is still hopefully a solution where Saab Automobile is sold as one entire entity:

"We are working very hard to reach a complete solution," the administrators said.

Last week the administrators did however sell Saab's part in the company e-AAM which develops, markets and produce hybrid and electric drive lines.

"We are always interested in selling parts that we do not consider part of an overall solution. We turn every stone to see if we can find any tidbits."

The administrators would not comment on the news from earlier today that Indian Tata Motors allegedly has placed a bid on Saab.