Beijing Automotive Industry Holding Co., Merbanco Inc. and Renco Group Inc. have made approaches about General Motors Co.'s Saab unit after the collapse of a sale to Koenigsegg Group, said two people familiar with the situation.
No written proposals have been submitted and any new bids or other options for the Swedish unit will be reviewed by Detroit-based GM's board at a meeting on Dec. 1, said one of the people, who asked not to be identified because the discussions are confidential.
Koenigsegg said Nov. 24 that it pulled out of talks to acquire Saab, saying it ran out of time to complete the transaction. Beijing Automotive was a partner in the investor group. While GM directors might opt to keep Saab, as they did with the Opel division this month, GM has a contingency plan that calls for winding down the brand, people familiar with the plan have said.
Beijing Automotive said Nov. 25 it will "cautiously" reconsider plans to buy a stake in the unprofitable Swedish carmaker. A Beijing Automotive spokesman couldn't be reached for comment.
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