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Detroit manufacturers still want to sell Swedish marques. Both of them said there have been companies interested in the purchases, but they do not want to announce what are those firms.
Ford bought Volvo for $6.5 billion in 1999. It plans to get rid of the company for about $1-2 billion. Many firms in various parts of the world have brought their offers and Ford of Europe says they “held preliminary discussions” with them and were “pleased with the number and quality of these parties”. It has been clear before that some Asian manufacturers show interest in Volvo, like Chery, Geely, Chang’an and Dongfeng. The other candidates for the purchase are kept in secret.
Saab is another Swedish manufacturer that is looking for a mother-company. General Motors bought it in 2000, but cannot handle it now in the hard economic times. Although in the end of 2008 there have been no companies interested in Saab, GM says there are several parties that think about acquiring the marque and the company will be sold by the end of the year. However, nobody knows what those mysterious buyers are.
Seems like, Saab will not belong to Asian auto manufacturers, or any other foreign companies, because its parent firm, General Motors has announced the final decision today. The American automaker will sell Saab to Swedish supercar maker Koenigsegg Automotive.
General Motors is happy to announce that the sale of Saab and Opel is coming to the final talks. There have been several candidates, but the manufacturer has the number of them to final three for each brand.
Good news from Ford: the manufacturer has announced to the shareholders that everything is under control and the company is going to come out of hard economic position by 2011 without any government help.
Daimler AG has announced that is sold 5.34% of the stake in Tata Motors. The German company has raised more than $400 million for the shares it did not want to hold any more.
General Motors does not have much luck with the brands it was going to sell. From the very beginning the manufacturer did not have much hope for any future of Pontiac and the brand was completely eliminated. Saturn/Opel had several potential buyers, but the deals were not successful as GM thought, so it still belongs to the American company.