Troubled carmaker, Saab has more than twenty suitors interested in buying it, the Financial Times reports.
Parent company General Motors is selling its Swedish brand as part of its restructuring process. A deal to complete the sale could be signed as early as June.
Meanwhile a Swedish court has granted Saab more time to restructure within bankruptcy protection. Saab filed for creditor protection on February 20 and now that has been extended until mid-May.
The manufacturer is believed to need around $1 billion of financing to remain liquid. GM has promised to contribute $400 million in kind, and has applied for the remaining $600m from the European Investment Bank.
Read more here: FT.com
