A Saab Automobile car rolled off the assembly line today for the first time in more than two years.
Mahindra & Mahindra Ltd., India’s biggest sport-utility vehicle manufacturer, is interested in buying at least parts of bankrupt Swedish carmaker Saab Automobile, two people familiar with the situation said.
Saab Automobile and parent company Swedish Automobile NV said they will receive funding from North Street Capital LP to help continue the reorganization of the cash-strapped Swedish carmaker.
Saab Automobile , the Swedish carmaker that’s been forced to halt production amid a cash crunch, said plans to raise funds by selling property have stalled because of European Investment Bank demands.
Lehman Brothers Holdings Inc.’s former Swiss unit lost its bid to seize some of the $1.5 billion of securities frozen at the bank’s London operation after its failure.
Saab Automobile’s assets may be broken up and sold to pay debt as the unprofitable Swedish company ends more than six decades of carmaking following a bankruptcy filing.
Saab Automobile is seeking a partnership with a Chinese automaker to secure long-term financing, newspaper Svenska Dagbladet reported, citing Spyker NV Chief Executive Officer Victor Muller.