Saab has asked reorganisation judges at the Vaenersborg district court in southwestern Sweden for an additional three months to reorganise its operations, one day before a similar such period granted in February expired.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“We have already applied today for an extension which will give us another three months,” Saab spokesman Joe Oliver told AFP, adding that he did not expect Saab would need the full three months.
“This is just another checkpoint in the reorganisation process. We have no reason to believe there will be any kind of hitch with this,” Oliver said.
Reuters said Saab had selected three suitors for continued talks. The company said in a court filing it had held presentations with 10 potential buyers.
“Among these interested parties, three have been selected to continue negotiations on an acquisition of Saab,” the company said in the document. “These negotiations will be carried out during the remainder of May in order to select the final candidate.”
Oliver declined to reveal the names of any of the interested parties to AFP.
Any potential new owner for Saab would have to deal with the unit’s massive debts – it owes SKR9.7bn (EUR920m; $US1.2bn) to GM – its largest individual creditor – plus SKR347m to the Swedish government. Other creditors are owed SKR647m.
A court official told Reuters a decision on the extension was expected late next week.
