Formula One Chief Executive Officer Bernard Ecclestone confirmed his plans to make a bid for Saab Automobile, the Swedish carmaker that is being wound down by General Motors Co. Ecclestone said he’s making the bid together with partner Genii Capital, a Luxembourg-based private-equity firm.
“It’s a good brand. It’s a good brand that has probably been neglected by the current owners,” Ecclestone said in a telephone interview today. “We don’t own it yet, so let’s see what happens.”
Genii Capital has decided that given an adequate and short timeframe for finalizing its offer, it will aggressively work towards a successful closing of the transaction with all the relevant stakeholders of the company, it said in an e- mailed statement today.
Bernard Ecclestone Confirms Plans to Bid for GM?s Saab Auto - Bloomberg.com