General Motors Co. said this afternoon that it has received “expressions of interest” in its Saab brand, and that the GM board will evaluate potential bids by the end of December.
“At that time we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business,” a GM statement said. The automaker declined to comment further.
Meanwhile, Dutch sports car maker Spyker Cars NV and its Russian owner, Converse Bank, on Monday submitted a bid to buy Saab, according to a source familiar with the matter.
The source said said Spyker submitted a written bid to Deutsche Bank seeking to buy all of Saab from GM. The source declined to reveal the amount of the bid.
Spyker currently makes sports cars priced above $200,000. Also, GM's plans for the brand, such as a new 9-4X crossover, “look extremely viable” to Spyker's management, the source said.