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AutoBlog: REPORTS: Chinese automaker, Wyoming investors still in bidding mix for Saab. Wait... Wyoming?!


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Filed under: China, Saab, Earnings/Financials

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Analysts have been speculating for years just how Chinese automakers would enter the North American market. The struggles of U.S. automakers have provided plenty of opportunities to purchase mature marques from the likes of General Motors or Ford, but so far, only Hummer has been added by a company from the land of the Great Wall. Beijing Auto, which partners with Daimler in China, was reportedly vying for Opel, but now Gasgoo, through a report in the South China Morning Post, is reporting that the Chinese automaker has turned its attention to Saab.

Saab CEO Jan-Ake Jonsson has announced that only two suitors are now bidding on the Swedish automaker, and GM has said a sale could be announced in a couple weeks. We'd reported earlier that the Saab suitors were Koenigsegg and Renco Group, but it appears there may end up being more serious bidders for the Swedish brand. As of this morning, Automotive News is reporting that a small group of Wyoming investors, Merbanco, is also still in the fray, and if report from the South China Morning Post is to be believed, Beijing Auto could also give China the international automaker it has craved.

GM will reportedly announce its preferred bidder for Saab later this week.

[sources: Gasgoo; Automotive News | Image: Cameron Spencer/Getty]

REPORTS: Chinese automaker, Wyoming investors still in bidding mix for Saab. Wait... Wyoming?! originally appeared on Autoblog on Tue, 09 Jun 2009 10:59:00 EST. Please see our terms for use of feeds.

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1. WTF is a Gasgoo? Sounds like some creature from Star Wars... :blink:

2. Wyoming investors? Isn't Merbanco merely a merchant bank? A merchant bank buying an automaker? Hmmm......... I'd almost be willing to bet Merbanco is serving as a front for someone else... :scratchchin:

Edited by ZL-1
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and that's why I'm proud to be from Wyoming! ha ha Leave it to some ridiculously rich rancher or energy guru from Wyoming to buy a carmaker...now that's just unexpected and totally kick ass! I could probably think of three or four people back home that would tell a bank to spend their money on something like this...

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isn't dick cheney from WY?

yes he is...but I hope he doesn't want a car company...and he still lives in Texas most of the time...I think his house in Casper is mostly for show...he only goes their a couple times a year as far as I know...

Edited by PONTIAC06
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