Saab receiver confirms "indicative bids"

Feb 7, 2012, 14:00 GMT

Stockholm - A receiver handling Swedish carmaker Saab's bankruptcy estate confirmed Tuesday that a few 'indicative bids' had been made for the carmaker.

'The indicative bids and the indicative interest we have received were interesting,' attorney Hans Bergqvist told reporters during a conference call.

Indicative bids are often non-binding but give the receivers an idea of what a bidder was willing to pay.

Bergqvist declined to name any of the four or five bidders, or say how much had been offered, but said the majority were foreign-based.

Media reports have mentioned Chinese group Youngman and India-based Mahindra as likely parties.

Bergqvist was appointed December 19 when the carmaker's Dutch owner, Swedish Automobile, filed for bankruptcy.

The bankruptcy estate included three companies, Saab Automobile, Saab Powertrain and Saab Tools.

Swedish Automobile took over Saab from General Motors (GM) in 2010. GM still controls key technology used by Saab and maintains a say over any possible deals.