Saab's Company Board Votes For Liquidation; Gradual Wind-Down Begins

The January 7 deadline has passed. Spyker's last-ditch bid for Saab is still on the table, yet to be rejected or accepted by General Motors. But major developments have taken place: GM has hired a company, AlixPartners, to oversee Saab's gradual wind-down, which could take a couple of months; More significantly, Saab's company board seems to have thrown in the towel, voting to shut down the company and liquidate any assets.

GM is, however, quick to point out that neither event will affect the ongoing negotiations with the remaining bidders, which include Spyker and possibly two Swedish groups among others. No deadline has been set this time round, so, presumably, a sale should be possible any time before the complete wind-down of the brand or until the cash runs out. Don't wait with bated breath; this could take a while.

AboutSeow Yaohan

Seow Yao Han strives to bring you the latest and the most comprehensive information on cars available in Malaysia. But it's never easy for him to talk and write cars in this part of the world because what you lust after is often not what you drive home. When the euphoria of test-driving that branded, super-expensive sports car dies down, he just goes home in his less-than-glamorous ride.