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Tuesday, February 28, 2012

Brightwell Holdings withdraws the bid for Saab

Brightwell Holdings, the turkish investment group, decided to step out of the battle of Saab. According to Zamier Ahmed, the leader of the bidding team, the reason is GM and its denial to cooperate.

Brightwell was one of the interested parties in buying Saab as the whole package and continue to develop and produce Saab cars. Their intention was to negotiate conditions under which they can use GMs patents used in 9-5, 9-4X and 9-3. These negotiations failed.

GMs standpoint to this is clean for several months. They don't intend to provide the IP rights to nobody.

But they are business men as well and for them most things have their price. Who knows what set-up Brightwell offered them. Maybe it wasn't enough.

Brightwell on the other hand says that GM wants to eliminate Saab. A competitor less would be good for them, especially when using the same platform. But Saab doesn't produce for nearly a year and it's former marketshare on the worldwide market of 1-2% cannot be a threat. It would be similar as if Shell would fight against a local family gas station on the corner. It does happen but not in such a direct way. But the local gas station can become a chain after a while. In some sick way, this is also a signal, that Saab still has potential to ressurect and grow, otherwise GM wouldn't loose time and resources on this.

But there could be another situation. For example both Youngman and Mahindra & Mahinda have interest to buy Saab, produce and have access to the important asian markets, China and India. And much better funded as Spyker. If they don't agree with GM, they could try the game on their own. Start with 9-3, than PhoeniX and continue. That would mean the local gas station would grow. For GM that would mean negotiations. Maybe not if they are arrogant enough.

In any cases less fighter in the battle of Trollhattan. Less competition in the bids but also less parties interested in continuing of the production of Saab and more probability of selling of Saab in pieces.

It is somehow quiet now. It can mean quiet before the storm.

Source : Saabsunited

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