• Sweden's news in English

Indian automaker places bid for Saab: report

AFP/The Local · 6 Mar 2012, 08:52

Published: 06 Mar 2012 08:52 GMT+01:00

Facebook Twitter Google+ reddit

"Tata's global acquisition team has been in negotiations with Saab and private equity players for a prospective acquisition by its Jaguar-Land Rover unit," the India Financial Express newspaper reported, quoting an unnamed source.

Tata Motors' spokesman declined to comment when contacted by AFP.

Last month, Saab officials said that at least four companies had placed preliminary bids for a buy-out - most of them from outside Sweden.

Saab, owned by Dutch company Swedish Automobile (SWAN), filed for bankruptcy in December after numerous failed deals to keep it afloat.

All of Saab's assets would be for sale, the company has said.

Tata Motors, which also makes the world's cheapest car, the Nano, bought British luxury brands Jaguar and Land Rover from US Ford Motor in 2008 for $2.3 billion as part of its plans to expand beyond Asia.

Tata Motors is likely to face competition from China's Youngman, which has been keen to buy Saab and is reported to have made a preliminary bid of about

$300 million.

Indian auto and farm equipment maker Mahindra and Mahindra is also reported

Story continues below…

to have placed a bid for Saab.

However, Tata Motors denies any plans to make a move on Saab.

"That is misinformation," Ratan Tata told AFP, speaking after the unveiling of the Indian company's new four-seater urban electric car, the Megapixel, at the Geneva Motor Show.

"We are making no move on SAAB," he said.

AFP/The Local (news@thelocal.se)

Facebook Twitter Google+ reddit

Your comments about this article

10:19 March 6, 2012 by hejsweden
i want to buy a new saab please save them!!!
13:29 March 6, 2012 by glenquagmaire
After tata had bought the Jaguar and Land Rover, they have been able to help the brand and keep bringing good cars...I hope it happens with saab also if they buy that...
13:33 March 6, 2012 by Ballcocks
Hard to beleive that Tata would be seriously interested, but if they were it would be fantastic. Look how well Jaguar and Land Rover have done under Tata's ownership
16:36 March 6, 2012 by Slash
wish Tata all the best..maybe SAAB will flourish again under Tatas and we can see good cars coming out again in Sweden and worldwide...
17:14 March 6, 2012 by 2394040
If they get the job they will have to satisfy GM, and I still believe GM's goal is to shut SAAB completely down.
04:09 March 7, 2012 by muscle
Good to see asian countries slowly taking over businesses. I hope they could form some kind of unity among them, union of asian states ? ahh too high dreams :P
18:30 March 7, 2012 by Escort
All wishful thinking. Jaguar and Land Rover were already successful brands with huge global recognition before being bought by Tata. Saab, by comparison, was a wreck and has not produced a new car in almost a year. Any interest shown by Tata will be connected with asset stripping rather than re-starting production.
15:59 March 9, 2012 by Scotsaab
This is the best news we've had on the Saab story since Spyker got involved. Tata has worked wonders with Land Rover and Jaguar and could turn Saab around. But before that can happen they need cooperation from the Swedish Government, who are tiring of the subject, and of course General Motors who are likely ot be less than helpful in any negotions.
17:48 March 16, 2012 by Bertil Rupp
Let's hope there will be a "brand new Day" for SAAB as from to morrow.

Lets all put some money in the company and at the same time swap all USA Cars to European cars. That would give SAAB a fair chance.
Today's headlines
Hundreds protest Swedish asylum laws
Around 1,000 people protested in Stockholm. Photo: Fredrik Persson/ TT

Hundreds of people on Saturday demonstrated in Stockholm and in many other parts of the country to protest Sweden’s tough new laws on asylum-seekers.

Dylan removes Nobel-mention from website
The American musician has more or less responded to the news with silence. Photo: Per Wahlberg

American singer-song writer Bob Dylan has removed any mention of him being named one of this year’s Nobel Prize laureates on his official website.

Refugee crisis
Asylum requests in Sweden down by 70 percent
Sweden's migration minister Morgan Johansson. Photo: Christine Olsson/TT

Sweden received 70 percent fewer requests for asylum in the period between January and September 2016 than it did during the same time last year, the country’s justice and migration minister Morgan Johansson has revealed.

The unique story of Stockholm's floating libraries
The Stockholm archipelago book boat. Photo: Roger Hill.

Writer Roger Hill details his journeys on the boats that carry books over Stockholm's waterways and to its most remote places.

Refugee crisis
Second Stockholm asylum centre fire in a week
The new incident follows a similar fire in Fagersjö last week (pictured). Photo: Johan Nilsson/TT

Police suspect arson in the blaze, as well as a similar incident which occurred last Sunday.

More misery for Ericsson as losses pile up
Ericsson interim CEO Jan Frykhammar presenting its third quarter results. Photo: Claudio Bresciani/TT

The bad news just keeps coming from the Swedish telecoms giant.

Facebook 'sorry' for removing Swedish cancer video
A computer displaying Facebook's landing page. Photo: Christine Olsson/TT

The social media giant had censored a video explaining how women should check for suspicious lumps in their breasts.

Watch this amazing footage of Sweden’s landscapes
A still from the aerial footage of Sweden. Photo: Nate Summer-Cook

The spectacular drone footage captures both Sweden's south and the opposite extreme, thousands of kilometres north.

Sweden could be allowed to keep border controls: EU
Police ID checks at Hyllie station in southern Sweden. Photo: Stig-Åke Jönsson/TT

Sweden could be allowed to keep ID controls on its border with Denmark beyond the current end date of November, following discussions among EU leaders in Brussels last night.

Why women in Sweden will work for free by November
File photo of a woman working in a Swedish office. Photo: Anders Willund/TT

A new study into the gender pay gap suggests Sweden still has some work to do.

Sponsored Article
This is Malmö: Football capital of Sweden
Fury at plans that 'threaten the IB's survival' in Sweden
Sponsored Article
Where is the Swedish music industry heading?
Here's where it could snow in central Sweden this weekend
Analysis & Opinion
Are we just going to let half the country die?
Blog updates

6 October

10 useful hjälpverb (The Swedish Teacher) »

"Hej! I think the so-called “hjalpverb” (auxiliary verbs in English) are a good way to get…" READ »


8 July

Editor’s blog, July 8th (The Local Sweden) »

"Hej readers, It has, as always, been a bizarre, serious and hilarious week in Sweden. You…" READ »

Sponsored Article
7 reasons you should join Sweden's 'a-kassa'
Angry elk chases Swede up a lamp post
Sponsored Article
Why you should 'grab a chair' on Stockholm's tech scene
The Local Voices
'Alienation in Sweden feels better: I find myself a stranger among scores of aliens'
People-watching: October 20th
The Local Voices
A layover at Qatar airport brought this Swedish-Kenyan couple together - now they're heading for marriage
Sponsored Article
Stockholm: creating solutions to global challenges
Swede punches clown that scared his grandmother
Sponsored Article
Swedish for programmers: 'It changed my life'
Fans throw flares and enter pitch in Swedish football riot
Could Swedish blood test solve 'Making a Murderer'?
Sponsored Article
Top 7 tips to help you learn Swedish
Property of the week: Linnéstaden, Gothenburg
Sponsored Article
How to vote absentee from abroad in the US elections
Swedish school to build gender neutral changing room
People-watching: October 14th-16th
Sponsored Article
'There was no future for me in Turkey'
Man in Sweden assaulted by clowns with broken bottle
Sponsored Article
‘Extremism can't be defeated on the battlefield alone’
Nobel Prize 2016: Literature
Sponsored Article
Stockholm: creating solutions to global challenges
Watch the man who discovered Bob Dylan react to his Nobel Prize win
Sponsored Article
Why you should 'grab a chair' on Stockholm's tech scene
Record numbers emigrating from Sweden
Sponsored Article
'There was no future for me in Turkey'
People-watching: October 12th
Sponsored Article
Where is the Swedish music industry heading?
The Local Voices
'Swedish startups should embrace newcomers' talents - there's nothing to fear'
Sponsored Article
Last chance to vote absentee in the US elections
How far right are the Sweden Democrats?
Property of the week: Triangeln, Malmö
Sweden unveils Europe's first elk hut
People-watching: October 7th-9th
The Local Voices
Syria's White Helmets: The Nobel Peace Prize would have meant a lot, but pulling a child from rubble is the greatest reward
Missing rune stone turns up in Sweden
Nobel Prize 2016: Chemistry
jobs available