Sweden’s Saab Automobile will be unaffected by its parent company General Motors filing for bankruptcy in the United States, Saab chief executive Jan-Aake Jonsson told AFP on Monday.
Saab’s American owner filed for protection from its creditors in a New York court on Monday in a bid to re-emerge as a new, leaner company.
But Jonsson stressed this would have “no impact whatsoever” on Saab’s own reorganisation process that began in Swedish courts in February.
“It does not affect the process of carving out the Saab organisation from GM, ensuring future financing and finding a new owner… no impact whatsoever,” he said in an interview at Saab’s Trollhaettan headquarters in southwest Sweden.
When asked about the identity of a potential new owner, Jonsson said: “We have two that we are having serious discussions with and one that is interested in coming back into the process.”
The Saab chief declined to name any of the parties involved, but told AFP that he hoped a memorandum of understanding would be signed with a preferred buyer “within a week or two.”
Media reports say that Sweden’s niche sportscar maker Koenigsegg, US investment company Renco Group and Italy’s Fiat are all keen on buying Saab.
“We will take June to complete the negotiations and hope a contract will be ready by the end of the month,” Jonsson said. Full story…