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.

Wednesday, May 2, 2012

Indian Mahindra said to be favorite to buy Saab

As reported earlier today, the Saab bankruptcy administrators will now start negotiations with two of the bidders for Saab. These two bidders are said to be Chinese Youngman and Indian Mahindra. And according to Swedish Radio P4 Väst, Mahindra is the favorite of the two.

Swedish Radio reports that the negotiations with the bidders will start this week, but so far neither Youngman nor Mahindra have arrived in Sweden for negotiations. To Swedish TV SVT Pang Qingnian of Youngman last weekend said that they are not in a hurry.

"We can wait. There is no hurry. This kind of deal can not be hurried," Pang Qingnian said.

Eventhough Mahindra now is said to be "in pole position", the winning bid will probably be the highest bid. Pang Qingnian would not say how much Youngman is willing to pay.

"This is not the right time to talk about amounts. We have placed a bid, but if the administrators want to discuss it with us, then we will be available."