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Tata Motors bids for ailing Saab

More than three years after it acquired British car brand Jaguar Land Rover,Tata Motors may spread its wings in the Scandinavian market

Written by ENS Economic Bureau | New Delhi |
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 Tata’s 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.

Saab’s trustee Hans Bergqvist said last week that the offers were filed before a Monday deadline. FE

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