INVESTMENT FIRM Genii Capital said liquidators had yet to start removing vital assets from Swedish carmaker Saab’s facilities, and said it remained upbeat about its chances of buying the loss-making firm from General Motors.
Last week a team of liquidators appointed by GM moved into Saab’s Trollhattan headquarters and took control of the company following a decision last month to start winding it down.
But no action has yet been taken that would make the firm any less attractive to prospective buyers, a spokesman for the Luxembourg-based Genii said yesterday, with GM still in talks with at least one party over a possible sale of Saab.
“We are still optimistic that a deal can be concluded with one of the parties,” said Lars Carlstrom, who is coordinating the bid, backed by Formula One mogul Bernie Ecclestone.
“As we understand it, the wind-down is on hold until a statement from GM on the sale . . . we’re still hopeful.”
Workers at Saab’s production facilities in western Sweden have orders to continue making cars until the end of next week, after which there is no clear signal on whether to continue work, the chairman of Saab’s main union said on Monday.
IF Metall’s Paul Aukerlund said that liquidators from consultants AlixPartners had been on site in Trollhattan for a week, but production facilities had not been modified.
“They have done nothing,” he said.
Saab dealers contacted in Britain said they had received no guidance from GM regarding Saab and were continuing to process orders for new vehicles until further notice.
Despite the offers still on the table, GM’s bosses have been adamant about wanting to shut Saab as part of efforts to shed loss-making units.
– Reuters