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Fourteen organisations have shown interest in Saab's bankruptcy EstateTuesday, 21 February 2012
The bankruptcy administrators managing Saab automobile’s bankruptcy estate are talking to six or seven parties who are interested in a complete solution for bankrupt Saab Automobile's estate. But there is also a group of stakeholders who would consider parts of the estate.
The administrators, Hans Bergqvist and Anne-Marie Pouteaux do not have any planned meeting with the “real” Saab stakeholders scheduled within the nearest week. In contrast, six or seven parties were reportedly invited to a "virtual data room." Here are they going to be shown a combination of hundreds of materials that have been scanned in for viewing, reports the Swedish business daily Degens Industri.
"That's where we are today. The stakeholders should have some time to review the materials, "says Hans Bergqvist, according to the paper.
He says that he expects an indicative, non binding offer, which the administrators can then proceed with.
Questioned about the stakeholders, who have signed confidentiality agreements in relation to their whether they have had access to all the papers and if they have submitted their bids, for that, the administrators would not answer. Instead:
"It is an ongoing process and we do not provide information on exact times, "said Anne-Marie Pouteaux.
The plan has been that before February is over, a decision should have been made and a complete solution should have been sought whether positive or not. Until then, it is just over a week left.
"We hope to have reached a stage in the process that we can evaluate if we still believe that there are prospects for a comprehensive solution, "said Hans Bergqvist.
According to the trustees there are six or seven parties that have expressed interest in a whole solution, that is, those who want to buy the company in whole - that includes the three Saab-companies in bankruptcy estate. In addition there are five to seven parties who have expressed interest in parts of Saab.
"But they are aware that priority one is to try to find a comprehensive solution, "said Hans Bergqvist. As such when the offers start to fall in, it is not certain that the highest bid wins.
"The bankruptcy process is so complex and requires so many pieces to fall into place that it does not lend itself to such a procedure,” they told the paper.
By Scancomark.se Team
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