Just weeks after the Swedish company Saab declared bankruptcy, we hear of Mahindra and Mahindra are very much interested in the company. Indian manufacturers Mahindra are looking to buy either part of the company or grab the whole pie. Though this has not yet been confirmed, the Indian company might just look at it as a prospect to increase and improve their footprint in the international markets to continue with their aggressive expansion plans. Saab who filed for bankruptcy after the company ran out of cash is also looking for a new owner.
With production coming to a standstill in March and the subsequent $263 million in losses affecting the company terribly, the Swedish company is basically left with no choice. Mahindra has been at the forefront of acquisitions last year after they struck a deal with Korean SUV-maker Ssangyong and also grabbed a majority stake in the electric car maker Reva. Though the Mahindra-Renault joint venture fell apart, the company’s quest to increase their global presence will push them to making some more deals. If the company does manage to grab Saab, it would come at a very low price and hopefully will allow the Indian maker to learn a thing or two about making top quality sedans for the Indian customer.
