Genii Capital has improved its offer to buy Saab, saying it offers the financial security and longevity to transform the fortunes of the Swedish manufacturer.
The Luxembourg based firm, which has teamed up with F1 supremo Bernie Ecclestone, also revealed it expects a response on its offer from GM by the end of the week. It said it was "very optimistic" of success.
Lars Carlstrom, head of Genii Capital, said: “It will show GM that the Ecclestone group is capable of providing financial strength to Saab during a long period of time and also show that the group has the know-how and capability, within its network, to run a company like Saab.”
“Most important is that Genii-Ecclestone would like to provide information to GM that financing is not an issue for this group.”
Rival bids are also being analysed by GM, with front-runner Spyker also rumoured to be considering an improved bid.
James Buckfield
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Re: Genii makes improved Saab bid
Agreed It would save Nissan a lot of money as they are trying to put Infinity in stand alone dealerships. A bit like Audi segregating themselves from VW/Skoda dealerships. I still maintain that a renault customer doesn't look to a japanese car as an alternative. More likely Peugeot or Citroen. Having Infinity and SAABs side by side in a dealership would not be seen as cannibalisation either. The brands would be distinctly different and appeal to one customer who prefers high-perfomance, high-reving and high-tech the other preferring more luxurious surroundings with the focus on Ecology, Safety and performance.
Wow I think this idea might actually have some legs....
Re: Genii makes improved Saab bid
Re: Genii makes improved Saab bid
Nice one Bernie, get Saab, knock it into shape, look forward to 2015, then flog to an emerged Chinese manufacturer who is eyeing just how well Geely is doing with Volvo ... still a fate better than what GM (Gross Mismanagement) has achieved with the business these last years ...