Thursday, January 21, 2010

China's BAIC Buys Equipment for Old 9-5 from SAAB, According to Swedish Newspaper

Citing unnamed sources, Sweden's Ny Teknik newspaper reported today on its website that Saab has sold the production tools for its outgoing 9-5 model to China's Beijing Automotive Industry Holding Corp. (BAIC). Saab refused to confirm or deny the report. "I cannot comment on it", Saab's spokesperson Gunilla Gustavs told the newspaper. The report, however, claims that the sale is a done deal.

BAIC had joined forces with Koenigsegg Group AB to acquire Saab from GM. After Koenigsegg pulled out of the talks, it was reported that BAIC may either go solo and make an offer for Saab on its own, or, more likely, make a bid for the Swedish firm's assets.

Earlier this week, General Motors stated that it would accept new offers for its Saab division until the end of December, but if it did not manage to strike a deal, it would consider the option of winding down the Swedish brand.

Source: Ny Teknik

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