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05 March 2012 #1
Frank Administrator
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- Saab(s)
- previous: 2006 9-3, 2001-06 9-5, 2011 9-4X
Indian Express: Tata Motors bids for ailing Saab
Source: Tata Motors bids for ailing Saab - Indian Express
More than three years after it acquired British car brand Jaguar Land Rover, Tata Motors may spread its wings in the Scandinavian market. The automaker, which last week placed a bid for the assets of bankrupt Swedish carmaker, Saab, for around $350 million, would be pitted against the likes of Volvo and Chinese auto giant Youngman, sources said.
It is understood Tata’s global acquisition team has been in negotiations with Saab and private equity players for a prospective acquisition for JLR. When contacted, a Tata Motors spokesperson said, “We do not comment on speculation.” According to Saab officials, the company has received at least five bids, mostly from outside Sweden.
However, the company did not divulge the details.
Saab’s trustee Hans Bergqvist said last week that the offers were filed before a Monday deadline. FE
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06 March 2012 #2
Frank Administrator
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- Saab(s)
- previous: 2006 9-3, 2001-06 9-5, 2011 9-4X
Tata Motors denies report of interest in Saab
-- Tata Motors denies reports of bidding for Saab Automobile's assets
-- Report said Tata Motors placed $350 million bid for Saab's assets
-- Tata Motors chairman says Mahindra has placed a bid
-- Mahindra spokesman says it is speculation
GENEVA (MarketWatch) -- Tata Motors Ltd. TTM -2.34% Chairman Ratan Tata Tuesday denied a news report that the company, India's largest auto maker by revenue, has placed a bid for the assets of failed Swedish car maker Saab Automobile.
"No we didn't," he told Dow Jones Newswires on the margins of the motor show. "But I know another Indian company has: Mahindra."
He didn't elaborate further.
Mahindra & Mahindra Ltd. , India's largest sport-utility vehicle maker by sales, called it a speculation.
"We don't comment on speculation," spokesman Mohan Nair said.
Indian newspaper Financial Express reported Tuesday that Tata Motors had made a $350 million bid for Saab's assets.
The report, citing people aware of the matter, said Tata Motors' global acquisition team has been in talks with Saab and private-equity players for a prospective acquisition by its U.K.-based unit Jaguar Land Rover.
Read more: Tata Motors denies report of interest in Saab Auto - MarketWatch
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