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'Mahindra interested in bankrupt Saab'

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Reuters

Posted: Dec 31, 2011 at 1637 hrs IST

Mahindra & Mahindra is interested in buying at least part of bankrupt Swedish carmaker Saab Automobile, Bloomberg reported on Friday citing sources.

Mahindra is trying to set up meetings with two court-appointed administrators who are overseeing Saab's bankruptcy possibly to buy parts of the carmaker or the whole company, Bloomberg said.

A Mahindra spokeswoman declined to comment when contacted by Reuters.

Saab was declared bankrupt by a court earlier this month, ending a nine-month battle by its Dutch owner Swedish Automobile NV SWAN.NS to stay afloat. It has not made any vehicles since April and several rescues have failed.

A number of potential buyers have shown interest in parts or all of Saab and there is a chance a deal can be made that allows some operations to continue, the company's receivers said on Friday.

Saab's court-appointed receivers, Hans Bergqvist and Anne-Marie Pouteaux, said in a statement they had met a number of Swedish and foreign players who have expressed interest in a possible purchase of all or parts of the business.

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Mahindra takeover of Saab by meeta on 31 Dec 2011

God! Indian enetreprenuers must find a way of doing business other than dealign in 'Bhangaar' - whichever you call it. The gasoline driven automobile is soon about to die hence the exit of this model by original owners.

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