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NINETY EIGHT REGENCY

Spyker CEO denies reported joint bid for Saab

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Spyker CEO denies reported joint bid for Saab

January 17, 2010 18:31 CET

FRANKFURT/AMSTERDAM (Reuters) -- Dutch sports car maker Spyker Cars NV denied on Sunday it had plans to jointly bid for General Motors Co.'s Saab unit with Luxembourg-based investment firm Genii Capital.

German business weekly WirtschaftsWoche, in abstracts of a story to be published on Jan. 18, said the two companies, which had been trying individually to clinch a deal to buy the money-losing Swedish carmaker, had now teamed up.

Spyker CEO Victor Muller, in a reply to Reuters via text message, responded with a "No" when asked if Spyker is in contact with Genii about a joint bid for Saab or whether the company had changed its bidding strategy.

Genii is backed backed by Formula One mogul Bernie Ecclestone.

Lars Carlstrom, who is coordinating the bid for Saab by Genii Capital and Ecclestone, told Reuters there had been some talks with Spyker's Muller last week but that he could not confirm nor deny anything related to a joint bid.

GM Europe spokesman Stephan Weinmann said GM is in talks about Saab but he declined to comment on whether discussions were ongoing with one or several bidders.

GM said it would move ahead with closing down Saab last Monday. On Tuesday it appointed two supervisors to oversee a wind-down, though it said it would continue to consider "several purchase proposals it has received for Saab."

The German magazine's abstract said: "According to WirtschaftsWoche information, Spyker Cars and Genii Capital have been in contact in order to make a last-second joint offer." It did not give other details.

Muller is still waiting for a response from GM and had no idea when the U.S. automaker will respond to Spyker's bid, he said via telephone on Saturday.

On Tuesday, Muller said GM's decision on Saab is a matter of "days not weeks." Spyker is working "around the clock" and is not prepared to give up on a deal to snag Saab.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100117/ANE/301179989/1193#ixzz0cyhkt9xI

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