There are reports saying that Saab has narrowed down potential buyers down to three from the previous ten. The information came from a court filing which was made by GM in which it requested an extension of protection from creditors.
It was stated in the document that three candidates have been chosen with which the negotiations to acquire Saab would continue. The company will be selecting the final candidate in the remaining days of May. According to Saab, it needs $1 billion (?645 million) in financing to stay afloat and has requested creditors to write off 75 percent of its $1.4 billion (?900 million) debt most of which is owed to GM. A decision will be made final later in the week succeeding.
Read Article