Indian M&M bids for bankrupt Saab

Companies - Published Tuesday, 07 February 2012 07:10 | Author: Johan Nylander

Indian M&M bids for bankrupt Saab

The India Times said on Tuesday that Mahindra & Mahindra (M&M ), which is among the four companies to show interest in Swedish automaker Saab, has signed a confidentiality agreement with the bankrupt company and is in the process of finalizing its bid.

M&M is likely to tie up its bid in the next 15 days, Sources close to the deal said.

Mahindra & Mahindra Limited is an Indian multinational automaker headquartered in Mumbai, Maharashtra, India. It is one of the largest automobile manufacturer by production in India and subsidiary of Mahindra Group conglomerate. The company was set up in 1945.

Last week Swedish radio reported that Chinese group Zhejiang Youngman Lotus Automobile has made a fresh bid for the Swedish carmaker.

Last Updated (Tuesday, 07 February 2012 07:14)