European automotive supplier body CLEPA says Saab CEO Victor Muller is still trying to secure a deal that will be acceptable to former parent General Motors, with the possibility now of a Chinese bank becoming involved.

“I talk to Victor Muller on a regular basis and he is trying to put a deal together,” CLEPA CEO Lars Holmqvist told just-auto from Sweden. “For the moment, what Victor Muller is doing is negotiate with [manufacturer] Youngman and Chinese investors.

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“He believes the set-up would be acceptable [to] GM – if that is true it is worthwhile waiting for. I assume he [Muller] knows what GM thinks and what they can [do] according to the contract.”

There has been speculation a Chinese bank could replace distributor Pang Da in any tie-up with Saab, although what the ownership split might be is at present, unclear. GM has previously objected to a 100% takeover of the Swedish automaker citing licence technology issues.

Holmqvisit was not aware of the identity of any Chinese bank, but more details may be forthcoming after a scheduled call this afternoon from Muller, who regularly updates the CLEPA chief on the situation at Saab. The manufacturer owes CLEPA members around EUR150m (US$201m),

“If I were GM, I would just say one thing, we have nothing to gain and a lot to lose,” said Holmqvist. “They sold the company and the company only has one mission, so it could not be limited to saying just you Victor Muller and no-one else can own the company.”

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Yesterday (5 December) in a statement posted on the Shanghai Stock Exchange, Pang Da said “in principle,” it would not oppose any plan that would be good for Saab’s restructuring and help it out of its current plight.