March 6, 2012 1:08:52 am
More than three years after it acquired British car brand Jaguar Land Rover,Tata Motors may spread its wings in the Scandinavian market. The automaker,which last week placed a bid for the assets of bankrupt Swedish carmaker,Saab,for around $350 million,would be pitted against the likes of Volvo and Chinese auto giant Youngman,sources said.
It is understood Tatas global acquisition team has been in negotiations with Saab and private equity players for a prospective acquisition for JLR. When contacted,a Tata Motors spokesperson said,We do not comment on speculation. According to Saab officials,the company has received at least five bids,mostly from outside Sweden.
However,the company did not divulge the details.
Saabs trustee Hans Bergqvist said last week that the offers were filed before a Monday deadline. FE
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.