Genii Capital confirmed on Friday (January 8th) in Luxembourg that it had submitted an offer with Ecclestone shortly before the end of the bidding period. The ailing American automaker General Motors wants S aab . The Dutch sports car manufacturer Spyker had also submitted an offer.
Investors are convinced by Saab
Even if Genii entered the race late, I will the group is now 'working aggressively with all relevant stakeholders for a successful conclusion of the transaction'. The deadline for offers expired on Friday night. No information was given about the extent to which Genii and Ecclestone were involved. As a GM subsidiary, Saab has almost consistently incurred losses in the past 20 years.
The Genii Group is convinced that it can 'increase the value of Saab through synergies with existing companies'. There is great potential in the areas of energy-efficient motors as well as information and media technology. Genii assumes that there will be a strong development in energy efficiency, safety systems and entertainment in the car in the auto industry. All these points are in focus at Genii.
Genii Capital is active in the USA, Europe and Asia. Above all, Genii invests in new technologies, in the entertainment and automotive industries, and in brand management. In December, the Luxembourg-based company caused a sensation when it took over the majority stake in the Renault Formula 1 racing team.
Ex-MAN boss as third bidder
The third bidder with Swedish roots is Hakan Samuelsson, who stepped down from the head of German bus and truck manufacturer MAN last year. He has allied himself with Jan Nygren, who was a member of the social democratic cabinet in Stockholm from 1994 to 1996 and was once a manager at Saab's aviation offshoot. 'Many, not just me, believe that it would be unfortunate in many ways if Saab were to disappear as a product and brand,' Nygren told Swedish radio.
Despite examining offers to buy, GM is pushing to close Swedish daughter Saab moving forward. GM commissioned the consulting company Alix Partner to lead the handling of Saab, like the US group in Detroit on Fridaycommunicated.