German car major BMW has expressed interest in the Saab buy although official confirmation from the German automaker is yet to arrive. Swedish automaker Saab has been on the block for quite a while now, even as talks with the Chinese Youngman group collapsed late last year, after General Motors disagreed to allow the Youngman group use technology that Saab had developed when it was owned by General Motors. Since then, Saab has been back on the auction block, with the automaker having gone into administration after filing for bankruptcy. The administrators have decided to sell Saab as a whole or in parts.
Saab Turbo X Sedan used as an illustration
It remains uncertain whether BMW is bidding for Saab as a whole or is interested in particular technologies that Saab has developed over the years. Apart from the Chinese Zhejiang Youngman group which has now re-entered the bidding race for Saab, a Turkish private equity outfit and Indian automaker Mahindra is said to be in the race for buying Saab’s assets. Mahindra is interested in buying a particular part of Saab’s business and is said to be looking to make an investment of about $100 to $150 Million in its bid for a particular part of Saab’s assets.
A couple of years ago, Saab and BMW had signed an agreement, in which BMW would supply Saab with petrol engines to power Saab cars. The other big acquisition story is that of iconic Italian motorcycle maker Ducati being up for sale. Volkswagen and Mercedes Benz’s performance wing AMG are said to be potential buyers of this motorcycle maker. While there were some reports about BMW Motorrad, the German BMW group’s motorcycle brand being a possible bidder for the Ducati buy, the BMW group has officially denied its interest in the Ducati bid.