Mahindra & Mahindra interested in bankrupt Saab Automobile: report
India's biggest utility vehicle manufacturer Mahindra & Mahindra (M&M) is reportedly interested in buying a part or the whole of the bankrupt Swedish carmaker Saab Automobile.
Two people familiar with the matter said that M&M is organizing meeting with the court-appointed administrators, viz. Hans Bergqvist and Anne-Marie Pouteaux, who are Saab Automobile's bankruptcy and finding potential buyers for the bankrupt manufacturer.
On the condition of anonymity, the two people said, "The contacts made so far have been positive and provide real hope that their may be alternatives, and even combinations of solutions that could result in some continues activity and suitable development of the bankruptcy estate."
Saab Automobile was declared bankrupt by a court earlier in December, after its Dutch owner's all rescue plans failed.
Recently, Swedish business daily Dagens Industri reported that a major Indian automaker might show interest in buying a part or all of Saab Automobile.
Over the past two years, M&M acquired SUV maker Ssangyong in a deal worth $368 million and purchased majority stake in electric car manufacturer Reva. It also acquired its stake in Logan joint venture back from Renault.
