India’s Mahindra & Mahindra linked to bankrupt Saab

India’s Mahindra & Mahindra linked to bankrupt SaabSaab may be bankrupt financially, but it has no lack of suitors. After rumours of a sale to the Turkish government surfaced last week, word has it that India’s biggest SUV maker is an interested party. The said company is Mahindra & Mahindra Ltd, which is interested in buying at least parts of bankrupt Swedish carmaker, two people familiar with the situation said.

The maker of the Scorpio is in the process of trying to set up meetings with the two court-appointed administrators who are overseeing Saab’s bankruptcy, according to the sources, who want to remain anonymous because the plans are private. M&M spokeswoman Roma Balwani declined to comment.

M&M is no stranger to buying a bankrupt company. In early 2011, the Indian brand completed the purchase of a 70% stake in SsangYong Motor Co for about $368 million, as it sought to benefit from the South Korean company’s technology and international sales network. After the takeover, SsangYong revealed that it plans to spend more than 240 billion won ($208 million) on product development and brand building in the year, hinting at M&M’s financial muscle.

Recently, Mahindra also bought out Renault’s stake in the Logan sedan joint venture and took control of Bangalore-based Reva Electric Car Co, so its appetite is obvious. Is Saab about to join the list?

Looking to sell your car? Sell it with Carro.

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Danny Tan

Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website. Enjoys detailing the experience more than the technical details.

 

Comments

  • Jaybond on Jan 03, 2012 at 11:54 am

    If Mahindra could revive Saab brand, that’ll be a good news, but is it going to work if the cars built outside Sweden?

    Like or Dislike: Thumb up 0 Thumb down 0
    • PakAbu on Jan 03, 2012 at 3:08 pm

      Then, the Inspector Sahab can arrive in style in a Saab… to save the day yet again … when the hero is really in need.

      :mrgreen:

      Like or Dislike: Thumb up 1 Thumb down 0
  • Curry flavored Swedish meatballs? I like!

    In all seriousness, Saab has great technology and good design. If they can get financial backing, they can become a serious player in the region.

    Like or Dislike: Thumb up 0 Thumb down 0
  • Saab 9-3 - SS on Jan 03, 2012 at 2:34 pm

    am sure Americano will hv less objection if India were to buy it.

    Americano has sold both Hummer & Harley to Indian recently….

    Like or Dislike: Thumb up 0 Thumb down 0
  • Kumar san on Jan 07, 2012 at 4:51 pm

    The Mahindra group of companies is huge,they have the financial strength to buy out struggling auto companies and turn them over for the better.

    They are not to be underestimated,if they can buy out SsangYong Motor Co just out of the blue like that for almost $370 million,then i reckon the purchase of Saab would be a wise purchase.

    Saab are no strangers to building some proper automobiles of yore,they actually started out as an aircraft manufacturer,and they still build the Saab Drakken&Viggen fighter jets used only by the swedish air force by the aero group.As for the auto group of Saab,i kinda like the brand,it would be sad to see them go.

    I am hoping Mahindra’s purchase of Saab will be fruitful.

    Cheers.

    Like or Dislike: Thumb up 0 Thumb down 0
 

Add a comment

required

required