Swedish Govt Returns To GM HQ Next Week To Talk Saab

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

Representatives from the Swedish Government will be arriving in Detroit on Saturday just prior to the NAIAS along with Saab and Volvo representatives to provide any remaining information the owners, GM & Ford respectivelyneed for the sale according to Reuters.

If I were the Swedish Government representative, I would prioritize Saab because it needs more care than Volvo’s non-dramatic sales process with Ford.

I hope all parties once and for all, get it done when they arrive in Detroit. I think all parties will be on the same physical location at the same time, so they best seal the deal.

Representatives from Sweden’s finance and industry ministries will meet in Detroit with Saab parent GM and Ford (F.N), currently in the process of selling its Swedish car unit Volvo Cars.

“As we understand it, GM has not closed the door to a sale (of Saab), even if the official line is a wind-down,” state secretary Joran Hagglund said.

“We want to make totally sure they (GM) have all the information they need.”

Dutch sports car maker Spyker Cars (SPYKR.AS), which wants to buy Saab, has said GM has set a deadline of Jan 7. for bids for the Swedish firm. [ID:nLDE603121]

Saab, which GM has controlled since 1989, posted a loss of $340 million in 2008 and is expected to have made a similar loss last year.

A deal with Swedish luxury car maker Koenigsegg to buy Saab fell through in late November and in December, GM said it would start winding down Saab’s operations though it would consider new bids for the firm.

Spyker’s CEO, Victor Muller, has said there are multiple parties still interested in buying Saab, which employs over 3,000 workers in Sweden.

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