Genii Capital Plans To Submit Bid For Saab Today

Posted on 07. Jan, 2010 by in 2010-2019

Saab History has confirmed through Bloomberg & TTELA’s interview, that Luxembourgh based Genii Capital plans for a bid to Saab Automobile by 5pm today.

Apparently, there is a Swedish entrepreneur behind the company and has been working on this for nearly a year to buy Saab. – It takes time to get all the pieces in place, “says the source according to TTELA.

Genii Capital is a private investment company that operates in North America, Europe & Asia. They specialize in development of innovative ideas in brand management, technology, entertainment and automotive industries. This past December they announced their intent to purchase the Renault F1 racing team.

When Saab History tried to contact them today, they were answered the phone, but were unable to comment as their spokesperson would not be available until Monday.

Here is a piece by Bloomberg below:

genii

Jan. 7 (Bloomberg) — Genii Capital plans to hand in a bid for General Motors Co.’s Swedish Saab Automobile unit today, Genii spokesman Lars Carlstroem said in a telephone interview.

Genii plans to use former bidder Koenigsegg Group’s business plan for Saab and make the automaker profitable by 2012 with production of 105,000 vehicles a year, Carlstroem said.

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