Bernie Ecclestone takes aim at Saab as GM prepares for wind-down
Formula One commercial boss Bernie Ecclestone is part of a group that is making a last-minute play for Saab.
Ecclestone and Luxembourg-based Genii Capital announced their intentions on Thursday. Genii Capital recently bought a controlling stake in the Renault F1 team.
The group is taking aim at Saab because it invests in technology companies, and it believes information and communication technologies will play an increasingly import role in the auto industry.
The news was announced before General Motors said on Friday that it has retained AlixPartners to oversee an orderly wind-down of Saab. The process is expected to take several months.
Still, GM said has received several proposals for Saab and is considering them. Supercar maker Spyker has also been trying to buy Saab and has made a revised bid. The Swedish media is reporting that a group led by former Saab executive Jan Nygren and a former Swedish government official is interested in Saab.
Earlier this week, GM CEO Ed Whitacre said the company has received interest in Saab, but no one had been able to line up financing.
“You know it’s real easy–just show up with the money and you can have it,” he said. “But no one’s showed up with the money.”
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