Sino-Japan group eyes bankrupt Saab Auto
Source: Bloomberg News |
May 26, 2012, Saturday
|
Print Edition
Print Edition
A GROUP led by a Chinese energy company and a Japanese venture-capital firm has placed a bid for bankrupt Swedish carmaker Saab Automobile, a spokesman for the investing team said yesterday.
The two main parties in the group are Sun Investment, a Japanese firm that specializes in high-tech environmental projects, and National Modern Energy Holdings Ltd, which has roots in Hong Kong and builds and owns power plants in renewable energy, Mattias Bergman, a spokesman for the group in Sweden, said in a phone interview.
"We have placed a bid, and we want to buy Saab and build cars," he said. "We're interested in what Saab's brand stands for, the innovation and competence in the company, and the production facility that's world class."
Saab filed for bankruptcy in December after running out of cash. General Motors Co sold the Trollhaettan, Sweden-based, company in February 2010 to the Dutch sports-car maker now called Spyker NV. Saab hasn't made cars since last year, after an initial production halt in March 2011, after stopping payments to suppliers.
The bidding group has additional participants, Bergman said, declining to identify them. The group has formed a company called National Electric Vehicle Sweden AB "with the only purpose of buying Saab's assets," and Karl-Erling Trogen, a former Volvo AB executive, is chairman, said Bergman, who works for Swedish public relations firm Springtime.
The two main parties in the group are Sun Investment, a Japanese firm that specializes in high-tech environmental projects, and National Modern Energy Holdings Ltd, which has roots in Hong Kong and builds and owns power plants in renewable energy, Mattias Bergman, a spokesman for the group in Sweden, said in a phone interview.
"We have placed a bid, and we want to buy Saab and build cars," he said. "We're interested in what Saab's brand stands for, the innovation and competence in the company, and the production facility that's world class."
Saab filed for bankruptcy in December after running out of cash. General Motors Co sold the Trollhaettan, Sweden-based, company in February 2010 to the Dutch sports-car maker now called Spyker NV. Saab hasn't made cars since last year, after an initial production halt in March 2011, after stopping payments to suppliers.
The bidding group has additional participants, Bergman said, declining to identify them. The group has formed a company called National Electric Vehicle Sweden AB "with the only purpose of buying Saab's assets," and Karl-Erling Trogen, a former Volvo AB executive, is chairman, said Bergman, who works for Swedish public relations firm Springtime.
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