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Friday, January 27, 2012

Brightwell Holdings signs confidentiality agreement with Saabs receivers

Dagens industri reports, that one of the interested parties in buying Saab, the turkish company Brightwell Holdings has signed a confidentiality agreement with the receivers of Saab. That means no details of an eventual bid will be revealed.

The private-equity firm claimed before, they are interested in buying Saab as the whole company.

They would like to make a bid. "We are just a few days, maybe a week away." said the spokeswoman and board member Zamier Ahmed. It makes sense, they don't want reveal any details. On the first hear it sounds a bit suspicious, but at least my experience says, confidence agreements are before tenders and bids not unusual. 

Their competitors in bidding should be chinese company Youngman, which claimed to bid. Another interested party was the indian Mahindra, which representatives visited Sweden a few days ago. But about bid no word until now.

The second part of the article becomes also interesting, when DI starts to ask Brightwell about GM and their possible steps in licensing of their know how. The answer : 

"If GM is continuing to issue their licenses, we can begin production within weeks.".

"But if GM, at worst, do not want to go that route, it does not mean that we are not interested in Saab ...  we have our own platform, developed internally by one of the companies owned by Brightwell Holdings, " she added.

What licenses she speaks about ? GM claimed, that they will not issue 9-5 and 9-4X licensing to anyone. So, does she speaks about the 9-3 license ? What about the PhoeniX ? It is known, that Saab has sold a right to use to Youngman. If the right is exclusive ... about that falled never a word. Or one of their plans is to have PhoeniX and the new platform together. 

This is unknown and due to the agreement it will remain so. To buy a Saab as a whole package is one thing, what exactly they plan to produce in Trollhattan is a different story. 

Let's hope for the best.

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