Now this is one unexpected piece of news. Formula 1 supremo Bernie Ecclestone has confirmed plans to make a bid for Saab! We previously reported that the original Dec 31 deadline set by GM to find a buyer was extended to Jan 7, and Spyker’s CEO, which company was the sole bidder at that time believed that he wasn’t alone in the race to save Saab.
Looks like he was right about that. Bloomberg reports that Ecclestone is making the bid together with Genii Capital, a Luxembourg-based private-equity firm. Sounds familiar? That’s the new major stake holder in the Renault F1 Team.
“It’s a good brand. It’s a good brand that has probably been neglected by the current owners,” the 79-year old said in a telephone interview. “We don’t own it yet, so let’s see what happens.”
Genii Capital said that given an adequate and short timeframe for finalising its offer, it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company.
Deadline postponed, saga continues…