3 bidders for Saab

2009-5-20  |     NEWSPAPER EDITION

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SAAB Automobile yesterday confirmed it is in talks with three potential buyers that have expressed interest in taking over the ailing General Motors Corp unit. Saab spokeswoman Annicka Troedsson said the company has narrowed it down to a short list. She confirmed there were three potential bidders but declined to identify them. Sweden-based Saab went into creditor protection on February 20 in an effort by GM to spin off or sell the unit.

Lawyers yesterday filed an application to extend the court-managed reconstruction process until August 20. The original reconstruction period ends today.

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