Of all the bidders who put an interest in the now quiet automaker Saab, none have been as pronounced as China’s Youngman. Last year, they had everything in order to take the reigns of Swedish Automobile N.V. and Saab but due to timing, General Motors’ connections and the Chinese government, the first attempt failed to pan out. Even after Saab declared bankruptcy, Youngman made a few extra bids for ownership but nothing ever transpired. It appears now, that nothing ever will.
According to an Autoblog article, Youngman is no longer in the running to become Saab’s next parent. The official reasons have yet to be revealed, but government intervention and questionable finances can more than likely take the blame. Last month, the receivers of Saab’s bankruptcy were entertained by a $492 million bid from Youngman but a full-fledged follow-through never showed itself. With the main player out, the game isn’t over just yet as reports have indicated a closing to take place sometime next week. The current named bidders for Saab are Mahindra & Mahindra as well as Geely and Volvo. There are a few who have yet to be revealed but nevertheless, someone wants to buy one of the most iconic names in the automotive history book.
Source: Saab
