Detroit Bureau on Twitter

Posts Tagged ‘saab mahindra’

Turkish, Indian Automakes Studying Saab Rescue

“Something could happen this month,” says Saab source.

by on Jan.02, 2012

At least two potential buyers are reportedly looking to take over bankrupt Saab.

Could it really turn out to be a “Happy New Year” for Saab?  Barely two weeks after finally filing for bankruptcy, a move most had expected would result in the liquidation of the long-struggling Swedish automaker, Saab could find salvation in the form of investors from either Turkey or India, industry insiders and company officials reveal.

A report out of Europe suggests an unidentified Turkish entity – which apparently has the support of that country’s government – is interested in purchasing Saab’s assets.  So is Mahindra & Mahindra, one of the two largest Indian national automotive companies.

Your News Source!

Details remain sketchy, but a senior Saab official tells that “something could happen this month.” In fact, he added, a revival of the now-bankrupt automaker would have to be put in place this month or the bankruptcy process might make it impossible to put all the pieces back together again.