General Motors says it has possible buyers for Saab

(November 28, 2009) General Motors said on Friday it was talking to possible buyers of Saab, four days before a GM board meeting considers whether to attempt to revive a sale process or eliminate the 60-year-old Swedish auto brand.

"We can confirm that we have heard from different investors. We have a close dialogue and close contact with several who have expressed interest in buying Saab Automobile," spokeswoman Gunilla Gustavs said. "It is not so surprising, given that there were 27 parties who were interested (when Saab was initially put up for sale) and 10 who came and looked the company over in April and May."

Gustavs would not give any further information about whom the possible buyers might be or how many potential suitors money-losing Saab had approached since a potential sale to Koenigsegg Group AB collapsed.

On Tuesday, Sweden's Koenigsegg Group, a consortium of private investors including super car maker Koenigsegg Automotive AB, pulled out of a deal with GM to buy Saab, blaming the length of time it was taking to finalize the agreement and get European Investment Bank loans and loan guarantees.