The country’s leading vehicle maker Mahindra & Mahindra is aggressively expanding its foot prints in the global market with a series of mergers and acquisitions. After acquiring the bankrupted South Korean utility vehicle maker Ssangyong last year, the company is now in keen to buy the bankrupt Swedish carmaker, said the three administrators of Saab on Monday.
In a statement given to TT news agency, Mr. Hans Bergqvist said, "I can't comment on whom we are in discussions with, but we are conducting dialogues with four to five interested parties who we consider are seriously interested." He added that these are firm’s main tack the company will get the most value.
It is to be mentioned here that Swedish car maker Saab had filed for bankruptcy on December 19th. The company has been aiming to sell all of Saab to a single buyer.
Besides Mahindra & Mahindra, the other car maker’s, which are in the race of buying Saab, include the likes of Chinese carmaker Youngman and Turkish private equity firm Brightwell Holdings. The administrators of the company are hoping that the deal of Saab’s selling will be closed within a few weeks. "We have to (hurry) due to the economic situation we are in. To make it possible for someone to restart the activity again, we have to keep the factory in good shape, and that costs an incredible amount of money," Mr. Bergqvist said.
