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.