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Saab attracts more than 20 buyers

Written By Faye Sunderland Published On: Apr 08 2009
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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

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