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.
Details remain sketchy, but a senior Saab official tells TheDetroitBureau.com 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.